Black is coming off the success of "The Nice Guys," which brought him back to the "Kiss Kiss Bang Bang," buddy cop genre. Before that he was struggling to get creative freedom for "Iron Man 3," but that film did end up being one of the better Marvel entries and a Christmas movie classic as far as I'm concerned.
EDIT: Looks like Boyd Hoolbrook is replacing Benicio Del Toro according to VARIETY
EDIT: Looks like Boyd Hoolbrook is replacing Benicio Del Toro according to VARIETY