Ubisoft confirms that console versions will be ports
"Previously, we developed games first on the Xbox 360 and then translated onto the PS3. It took a lot of time and money to make that port. Now we develop from the PC and versions are translated into a console like the PlayStation 4," he said.
With the newer hardware design of the PlayStation 4, it's going to be easier to make games on the PC and then port them to the consoles. The differences in hardware are less of a problem, and scaling something down is easier than scaling it up. While PC gamers might be running around rejoicing over this, it's also good news for everyone. It will be cheaper, quicker, and easier to create cross-platform games, and the resulting product will look better since the engine doesn't have to be drastically reworked for different hardware.
Ubisoft boss Yves Guillemot on the PS4 - Interview [Inside Gamer via PC Gamer]