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.
From Resident Evil Requiem to an allegedly big Star Wars announcement, this year's ceremony could be the most significant yet.
The statement follows rumors surrounding the Screen Burn-developed title serving as the first part in a horror anthology.
Liverpool Mexico may have accidentally revealed the horror title's release date, perhaps before an imminent announcement.
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.
"We’re working hard on both titles to meet fans’ expectations," says series producer Motoi Okamoto.
The upcoming horror title is seemingly unaffected by the recent resignation of Annapurna Interactive's entire staff last month.
Series producer Motoi Okamoto says both titles are "currently in development" and asks fans to "look forward" to more details.
Konami confirms it will be sharing new details on its psychological horror franchise with an update later this week.
With this feature, we take a look at 18 of the best horror games that will be releasing in the near future and beyond.
What major single-player games can you expect next year? What do the years after have to offer? Check out 45 of the most exciting titles.
However, Konami's Motoi Okamoto first wants to bring "a new follow-up report" and asks fans to "please wait a little longer."
A prominent insider seems to be suggesting that Konami will be showing off new trailers for the upcoming titles very soon.