Now that Kojima is most likely out of Konami he will no longer be involved in the making of the game barring some kind of third party involvement.
I honestly don't know... It was nice to a big name involved with Silent Hill after seeing the series being licensed out and having games like Homecoming and Downpour... Hopefully they can put someone with competence with the development of the game along side Guillermo del Toro.
Seeing as I'm a huge Silent Hill fan this sucks and feel this picture is pretty funny