Cornell-Weill is going forward with Southtown Building #3.

The New York State Dormitory Authority will hold a hearing in Albany on Monday on a dozen Cornell items, one of which will be 455 Main Street.  The notice, published in The New York Times last week, reads, “Proceeds of the Notes and/or the Bonds are expected to be used to finance or refinance the following projects planned by Cornell University: At 455 Main Street, New York, New York, the purchase of the property and buildings located at such address for use as student housing by the Medical College (the ‘Southtown #3 project’).”

According to David Kramer of the Hudson Companies, which is developing Southtown with the Related Companies (Hudson-Related), work will go forward in May on the third Southtown building.

The bond amount for the building is $30 million.

In the same hearing, the Dormitory Authority will consider another $30 million item, the “purchase of the property and buildings located at 465 Main Street for use as student housing by the Medical College (the ‘Southtown #2 Project’).”  That building has already been built.

Personnel at 475 and 465 Main Street (Southtown #1 and #2, respectively) are reluctant to give information about occupancy, but the most recent indications are that neither building is even near half-occupied.