CREST Nicholson has six firms in the frame for a £25 million mixed development in Hertfordshire.
The developer is weighing up bids from Sir Robert McAlpine, HBG, Norwest Holst, Balfour Beatty, Kier and Laing for The Riverside scheme in Hemel Hempstead.
The development, designed by architect Bernard Engle, will include a hotel, retail centre and 100-bedroom hotel on the site of the former headquarters of oil company BP.
The deal also includes an access road, landscaping and infrastructure works.
Crest Nicholson is expected to choose a contractor for the project next month. Work will begin in June and last for two years.
Dacorum District Council granted planning permission to the scheme last August. Andrews is the quantity surveyor.