Well the saga of Silent Hills (hopefully) lives on in a recent comment Guillermo del Toro made with IGN. Apparently Del Toro and Hideo Kojima have stayed in contact and still want to work together in the future. What does this mean for Silent Hills? Well the game is still cancelled and isn’t coming back, but maybe the two of them could team up for another horror related project in the future.
Del Toro also commented specifically on what Silent Hills could have been:
“We were in the planning stages, and it’s a shame it’s not going to happen. We were talking about really pushing the boundaries of the new consoles, and making the game really mess with your head. One of the great moments in Metal Gear [Solid] was Psycho Mantis. The idea that a game can actually interact with you, and stuff like that.”
So ,yeah, watch for that “Quiet Mountain” Kickstarter coming in 2016. (This is a joke, do not take it literally)
[Source]