It has been some time since Tony Hawk has been a game staple, especially after the horrific nightmare that was Tony Hawk: Ride. Since then there has been Underground, Wasteland, Project 8, etc; all of which have been okay, but lacking the luster of the pro skater days.
Gameinformer has confirmed that Tony Hawk: Pro Skater 5 is currently in development. 
Players can expect a return to the classic play of the older titles:
"Tony Hawk's Pro Skater 5 features a new set of levels packed with objectives and missions you can complete solo or with friends via online co-op and competitive play. Whether you just want to have a session with friends or strangers or want to level up your character online and then take them offline, the game's online flow is seamless. Your created skate parks can also be shared with world."
This looks like a promising turn for the franchise, and potentially great title to return to when Tony Hawk was in its prime.
 - Gameinformer - Tony Hawk Returns - Exclusive First Look - http://www.gameinformer.com/b/features/archive/2015/05/05/tony-hawk-returns-exclusive-first-look.aspx