London South Bank University is looking for a developer for a major scheme at its Technopark building at the Elephant & Castle to provide new facilities and a "significant capital receipt".
The South Bank Technopark was opened in 1985 with the aim of fostering new technology for 1990s Britain.
Thames Television's regional news programme said that the project would "bring Silicon Valley to the South Bank".
Three decades later, LSBU is seeking a development partner for a large-scale project on the same site.
The university this week published a contract notice in the Official Journal of the European Union and hopes to select a successful bidder next year.
"This is an exciting opportunity to acquire the long leasehold interest in a significant central London development site," says LSBU in its information for prospective bidders.
The university will require any developer to provide conference facilities including a 400-seater lecture theatre and 200 bedrooms for conference delegates.
The scheme will also include a minimum of 648 student bedrooms and 150 self-contained studios.
As well as general teaching space, the university proposes a new ground-floor public cafe.
According to the OJEU notice, "the remainder of the site could be developed, subject to planning, for a variety of uses only as approved by LSBU".