The University of Manchester has re-submitted plans to develop the Fallowfield student village at Owens Park.
The first phase of the student accommodation development was due to have started already, however procurement chiefs were forced to amend their plans after the University's three framework contractors submitted tenders substantially higher than the original budget.
Originally the project, which consisted of building 3,000 student beds, was estimated to cost around £140-170 million, however since then the scope and phasing of the development has been amended.
In the latest pre-qualification notice for contractors, the project has been given an estimated cost band of between £65m to £245m, depending on whether one or all three phases are awarded.
The University is hoping that the current tender will attract interest from five bidders looking to complete the work.
Phase one of the project will include the construction of 1,122 rooms across eight blocks, as well as an amenity hub and energy centre. Phase two will consist of the demolition of Oak House buildings and The Limes Maintenance Unit, which will make way for a further 1,191 student beds spread across town houses and flats.
The final phase will see the demolition of Owens Park buildings, which will make room for 896 student bedrooms as well as shops and parking.