French developer Arkane Studios has announced that its upcoming FPS The Crossing has been put on hold.

According to Arkane CEO Raphael Colantonio, production of the game has suspended due to funding issues.

In fact, Colantonio told Joystiq that the developer ran into “unexpected financial challenges” a number of months ago, and now states that the group has now “shifted our efforts to other very good projects.”

The Crossing was an ambitious collaborative effort between Arkane and Washington-based developer Valve. The game was based on Valve’s Source engine while its visual concept and setting was designed by prized art director Viktor Antonov.

Prior to his work on The Crossing, Bulgaria-born Antonov worked on designing Half Life 2’s visual landscape and helped create the game’s iconic City 17. In 2006 he founded his design studio – the Building – in Paris. Just months later, The Crossing was announced, with Antonov working on crafting a neo-gothic Paris setting.

Full story over at Develop.