La Trobe University is calling on the private sector to co-develop its 235 hectare Bundoora campus.
The school’s University City of the Future proposal – revealed three years ago – will result in a new research and innovation precinct, sports facilities and wellbeing hub.
It will also include offices and shops.
Apartments to cater for 12,000 residents are planned too.
Upon completion in over 10 years, the college estimates the end-value of product would exceed $5 billion.
JLL is managing the expressions of interest campaign which closes on May 9.
Experienced and with similar values: school seeks partner
La Trobe University has already completed a 624-bed student accommodation complex, and sports field, as part of the revamp (story continues below).
Next year it intends to finish two research facilities – Digital Innovation Hub and Bio Innovation Hub.
Future stages include a hospital, aged care facility, childcare and super-clinics; Healthscope has been named the preferred operator for some of these components.
Another sports field, with the capacity to accommodate more than 10,000 people over a weekend, is also intended.
A food hub will be delivered with RMIT as well.
“La Trobe is seeking expressions of interest from a partner who has extensive experiencing in leading large-scale, complex projects and who shares the university’s cultural values,” a statement on the school website said.
“The Master Development Partner will bring property knowledge, expertise and investment to support the university’s ambitious vision,” it added.
“The University City of the Future will ultimately set La Trobe on a path of renewal, delivering revenue, social and economic growth for the university and wider community, and bringing significant benefit to students, staff, industry and partners”.