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According to the LinkedIn profile of Avalanche Studios co-founder and CEO Christoger Sundberg, there are two titles that are detailed.
The first title is an "open-world action game" based on "a well-known movie license." This first title is due to be released on current and next-generation consoles, along with PC in April 2014.
The second game in development at Avalanche Studios is a "new installment in a very well-known game series," but more specifically a "sandbox action game" to be published by Square Enix. The more obvious guess to this title right now would be Just Cause 3, which should be out for next-generation consoles in June 2015.
~ Source
wrote:The second one was pretty awesome.