[Update] Unfortunately it looks like Guillermo del Toro was right about the future of Silent Hills. The game has been canceled according to the following Konami statement sent to Kotaku this morning:
In terms of Kojima and Del Toro being involved, discussions on future Silent Hill projects are currently underway, and please stay tuned for further announcements.
Del Toro, who was to partner with Hideo Kojima on the ninth installment of the Silent Hill franchise, spoke about it at a film event in San Francisco, saying that “It's not gonna happen and that breaks my greasy heart.”
Combined with P.T.'s delisting at the end of the month, it's safe to say that many other greasy hearts are joining del Toro's.