There was a report this week that The Predator was going to a pretty unexpected place, the suburbs. It sounded odd, but this is Shane Black and he does love to subvert expectations.
Alas, this doesn't seem like it will be the case. Collider are saying that Black personally reached out to the site and confirmed that the film won't take place in a suburban area. Besides reconfirming that this will be a sequel and not a reboot, it doesn't seem there is too much more shared.
This certainly makes more sense, as getting the Predator back on Earth might have taken some doing. However, there is a small part of me that kind of wishes that Shane Black was directing a Predator movie set in a mundane environment. That could have been pretty wild, even if a little silly.