The Cornell NYC Tech campus planned for New York City’s Roosevelt Island reached a major milestone on December 19, after Cornell President David Skorton officially signed a 99-year lease for the city land the campus will sit on.

Skorton’s signature also marked two years to the day after Cornell was announced as the winner of Mayor Michael Bloomberg’s Applied Sciences NYC tech campus competition, paving the way for a campus that will foster high-tech innovation.

Cornell Tech is a collaborative effort between the Ivy League institution and Technion, the Israel Institute of Technology, a public research university in Haifa and one of the world’s top universities. Slated to open in 2017, the campus won’t be totally complete until 2037, reports the Cornell Sun.

“This is a big day for both Cornell and the Technion – Israel Institute of Technology, and we are very excited to have two such prestigious schools partnering to bring this campus to New York,” Mayor Bloomberg said at the lease-signing press conference, according to a Cornell statement.

Peretz Lavie, president of the Technion, also praised the progress of the joint venture and the partnership’s opportunities.

“It was your vision that inspired this new concept of how you bring academia and industry together in a city for the betterment of humankind,” Lavie told Bloomberg according to the statment.

Now that the campus’ future appears solidified, architects have begun laying plans for some of the campuses buildings, including a 350-unit residential building, reports the Cornell Sun. Local architects said their goal is to create a campus that blends design, functionality and sustainability.

Early renderings of what the 2 million square foot campus may look like show sleek, glassy buildings and a lot of public green space, notes Curbed NY. Some interesting planned features include a solar panel canopy, a soaring glass atrium for the corporate co-location building and an esplanade that will ring the campus, linking its buildings and public spaces.

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