While it might not launch until 2014, it seems to be a safe bet for release within a year.
Yoshi's Island 3DS appears to be a late fiscal year 2013 release, meaning that it should come out on the 3DS before March 31, 2014. This appears to confirm the release window for the game, which wasn't given during the reveal on last week's Nintendo Direct.
Judging by Nintendo's previous track record on 3DS, Yoshi's Island 3DS appears to be poised to release in March 2014, following the releases of Kid Icarus: Uprising in March 2012, and Luigi's Mansion: Dark Moon in March 2013.
The developer is still unknown, though the setup is still the same: you are Yoshi and you have to carry Baby Mario to safety. More details will be revealed on the game in the coming months.