Royal Cornwall Hospitals NHS Trust is seeking a developer for a 26 year project to build 230 units of student and staff accommodation within walking distance of Truro hospital.
The contract will encompass design, build, finance and maintenance of the development. Construction work is valued at between £8 million and £10 million.
Firms have until 17 July to register interest.
Work is set to start in April 2010 with completion due in mid 2036.