"As noted by Eurogamer, Bloober Team shared the news during an investor call yesterday. "We have two first-party production teams," Bloober Team shared (via Google Translate), "one of which is working on the Silent Hill 1 project and the other has started work on the next project." The studio also discussed its recently released horror title Cronos: The New Dawn which, much like the Silent Hill 2 remake before it, has been received well."
"A remake of the original Silent Hill brings with it many opportunities. Originally released in the late '90s, the game is certainly a product of its time with its awkward camera and... interesting localization. Not to mention, it's kinda tricky to get your hands on it. You either need an actual PSX copy and a machine that'll run it, or you have to snag it on the otherworldly, hellish lagscape that is the PSN store on the PlayStation 3. Terrifying."
Bloober Team confirmed during an investor call that two first-party production teams exist, one working on the Silent Hill 1 project and the other starting a different project. Bloober Team previously released a well-received remake of Silent Hill 2 and recently released Cronos: The New Dawn, which has also been received well. Konami teased the Silent Hill remake in June with a brief teaser featuring familiar music. NeoBards released Silent Hill f recently, and a remake of Metal Gear Solid 3 indicates Konami is facilitating quality releases. The original 1999 game has an awkward camera, rough localization, and limited availability.
Read at Kotaku
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