The University has lodged a development application with Newcastle City Council for a residential village that will feature the highest standards of environmentally sensitive design.
The development application includes four multi-storey residential buildings comprising of over 750 new student beds, and additional car parking for up to 400 vehicles.
University Vice-Chancellor, Professor Nicholas Saunders, said the project would provide a significant boost to the region’s economy.
"The development of a dedicated residential precinct on the Callaghan campus will create up to 350 jobs during construction and inject more than $250 million into the Hunter economy.
"We have reached an important milestone in the progress of this major infrastructure project that will deliver benefits to the region and, importantly, give our students much greater choice in affordable accommodation and really enhance their experience at the University."
The new residential precinct is part of a $100 million University student support package, which includes refurbishments to existing accommodation.
The project has been informed by extensive consultation with staff, students and industry experts.
The preferred site earmarked for redevelopment is on campus land alongside the existing Evatt House and Edwards Hall student accommodation.
Staged construction is scheduled to begin in the first quarter of 2012 with students moving in from 2014.
For more information visit www.newcastle.edu.au