Silent Hill 8, originally announced and trailered at E3 2010, has had a title change. The game, in development at Vatra Games and set to arrive later this year, has been officially titled Silent Hill: Downpour. The latest issue of Game Informer has a new preview on the title.

The demo shown to the magazine took place in the outskirts of Silent Hill. Apparently, the town is so large that the developers implemented a subway system for players to travel between points. The area explored in Downpour is the southeastern part of Silent Hill seen on maps, but never explored, in past games. Locations such as schools and hospitals will not return.

There will be various side-quests for the player to take on.

On combat, players can avoid fights when it’s possible (run, scaredy cat, run). Boss battles, on the other hand, aren’t avoidable and will enforce quick-time events when needed. Weapons used against enemies will weaken and break; there is no weapon inventory.

As the title may have suggested, water plays a huge role in Downpour. It’ll be to the game what ice and snow were to Silent Hill: Shattered Memories.

Source

Vatra hasn't made a game yet. Though they are working on this and a downloadable game. They appear to be made up of ex 2k Czech members. 

sounds great,but my main concern is that this is Vatra's first game!!

I wonder why konami has given, one of there most famous titles to a unknown developer

After how great Shattered Memories was, I have high hopes for this one. But I wonder how much different will it sound without Akira Yamaoka...

This was announced at E3? When?

Interesting. I really hope it turns out well. :/ I want Climax to make another Silent Hill game. I loved what they did with Shattered Memories.

I'm  so excited!!! Silent Hill is the definition of awesome

Really excited!

but seriously, "Downpour" is the best they could come up with? >.>

At E3

Cautiously optimistic.

Want full Move support for torch, character movement and combat - swing that board and feel the impact!  Want combat to be minimal to the experience.  Want genuine chilly atmosphere and sense of crushing foreboding with no hope for escape.  Want them to lose the disolving reality approach from the movie... still doesn't feel right for me.  Want new monsters/bosses specific to the character a'la Silent Hill 2 and nothing from previous titles.  Want fiendish puzzles.  Want ambiguity and no attempt to explain stuff beyond the hints and suggestions of Silent Hill 2.  Do not want them to try and ramp up combat to appeal to Western tastes - never works, look at Alan Wake.  Titles like these are not about combat and victory mechanics prevelant in traditional combat gameplay.  You should never feel you are defeating foes and winning, rather than you are escaping by the skin of your teeth to have a little more time to try and unravel what's going on.

We'll see.