According to a related report by Kotaku a secret studio within developer 2K is working on a new BioShock game. The secret studio, and its project, were both referred to with the codename Parkside, which likely refers to the location of the studio more than anything to do with the game.
"If anyone from Hangar 13 tried to strike up a conversation with [those at this studio], they'd say, 'Oh, we can't really talk about it," one source told Kotaku. "It was all very tight-lipped." Another source told Kotaku that the studio is keeping the Bioshock team small to avoid overstaffing the project.
"The issue is that Parkside's not ready for lots of people," one source said. "They're trying to be really smart about figuring out what the core thing is."