Cornell Tech, the massive project to launch a new applied sciences campus in New York City on Roosevelt Island (read: Tech Island), has been approved by the City Planning Commission “as part of the City’s public land use review process.”

The importance of this upcoming campus is clear: New York’s developer drought, which is affecting countless startups and hindering the growth of its greater tech scene, could be curbed by attracting and educating future engineers. This, coupled with initiatives in high schools, like NYC Generation Tech and the Academy For Software Engineering, makes for a promising remedy to the current shortage.

Next up, we’ve been informed that Cornell Tech’s plan must now be reviewed by the City Council, which is the “final stage in the process.” If everything goes well, the Roosevelt Island-based campus “will sit on a 12-acre site, with groundbreaking planned for early 2014, campus opening expected in 2017 and full build out in 2037.”

Today’s news follows the launch of Cornel Tech’s first class, which is currently being held at Google’s NY headquarters in Chelsea. For more, check out the link below.

➤ Cornell NYC Tech