Previous entries such as Silent Hill 2 remake and Silent Hill f retailed for $70, though Konami has yet to confirm Townfall's pricing.
"We see this project not only as our biggest and most ambitious game yet, but as a love letter to the series," says director Jon McKellan.
While the usual melee and ranged weapons are available, players can also sneak, hide and peer around corners for threats with the CRTV.
A new Silent Hill is out this year, focusing on Simon Ordell, who explores the dreaded town of St. Amelia to set things right.
The years-long wait for updates on the horror title from Annapurna and Screen Burn Interactive has finally come to an end.
More than three years after its announcement and with no further details, Annapurna Interactive's title remains a mystery.
"We aim to release about one title per year, including both announced and unannounced titles," said Konami's Motoi Okamoto.
Series producer Motoi Okamoto wrote about it being a major risk for the company, as fans would need to know that the series has a future.
The studio has said that it was originally named No Code because it didn't have coders. Things, however, have changed since then.