No details are offered on the supposed game codenamed 'Resident Evil: Raccoon City' beyond it being "team-based." This could indicate a multiplayer slant or simply that it's squad-based, like the SOCOM series.
Slant Six has yet to announce its next project and its website notes that the developer is working on an unannounced "amazing new project... with our new publishing partner on a world class franchise." The next big instalment in the SOCOM series, SOCOM 4, is being developed by series creator Zipper Intearactive. Kotaku also points out that Slant Six was seeking a Japanese translator/interpreter earlier this year, which would doubtless be useful when working with a Japanese publisher on a Japanese franchise.
Capcom only comments that it "does not respond to rumors and/or speculation."
While Capcom is shying away from original games by foreign developers, it's still trusting them with its precious franchises. Canadian studio Blue Castle--now Capcom Game Studios Vancouver--developed Dead Rising 2 while Ninja Theory, the English maker of Enslaved, is rebooting the Devil May Cry series in DmC: Devil May Cry.