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When Konami dropped the bomb that P.T. "Silent Hills" was being cancelled my heart hurt a lot, as a big Silent Hill fan (1 to 4) I was looking at Kojima / del Toro to bring the series to where it should be and I think they were doing a great job after playing P.T.
Well to make a long story short we now have a game being developed called Allison Road, which they say took a lot of influence from P.T. and it shows. Currently it's being developed on the Unreal Engine 4 with a team of 6 people. Game is currently in the Prototype/Pre-Alpha stage.
If you're a horror genre fan, check it out. Might be up your alley.
http://steamcommunity.com/sharedfiles/filedetails/?id=453962371