The NSW government is expected to call today for proposals for 3728 square metres of land next to Hunter Water's head office.

Minister for the Hunter Jodi McKay said the move would build on the recent expressions of interest for a new university precinct in Honeysuckle.

"This is an exciting opportunity for another major investment to be made in Honeysuckle precinct," Ms McKay said.

The site has been earmarked for a combination of residential, commercial and retail uses. The successful developer will also be required to turn the adjacent site into an open public park.

The land is east of where the Wickham transport interchange would go if the government decides to adopt that part of the Hunter Development Corporation report for rejuvenating Newcastle.

Ms McKay said a billboard advertising the call for proposals would be placed on the site this month and a local and national advertising campaign would be run.

"Development proposals must be lodged by August 30, 2010, and comply with the Hunter Development Corporation's call for proposals document," she said.

"Following the evaluation and negotiation phases, a selected development proposal would then be subject to the normal planning assessment process, including a public consultation phase."

The government aims to exchange contracts by December this year.