In March Hideo Kojima gave an interview in which he mentions that he would like to reboot the Silent Hill series and to create a new Silent Hill game under his direction. I can't believe it but it's really happening!
Their PR team did a great job because they released an interactive teaser game called P.T. ("playable teaser") that can be downloaded for free from the PlayStation Store. If you manage to finish the game a trailer for the upcoming Silent Hills is shown. As I have read and seen on Twitch it's really a frightening game with the old Silent Hill atmosphere we all love. P.T. is built very smartly as it requires some special combination of actions to trigger the end sequence. That includes having your headphones connected to the PS4 controller and saying a specific name into the microphone! It's the most impressive breach of the Fourth Wall I have seen before and reminds me of the moment from Metal Gear Solid where you could switch your (physical!) controller port to prevent Psycho Mantis from reading your mind (i.e. buttons you press).
While waiting for news about Silent Hills you can take a look at this blog entry in which a guy explains (and shows in a video) how he is hacking the original Silent Hill for PlayStation to find hidden rooms and items.