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Oregon Health and Science University has four words for would-be developers looking to partner on the university’s newest building project: show me the money.

A for the project said that only proposals from developers with a minimum of $10 million of equity or financing on hand will be considered for the project. Developers with even higher levels of equity will be weighted more heavily in the selection process, the RFP said.

Though the requirement seems abnormal, developer Brad Malsin of Beam Development says there is no normal in today’s development world. Banks today are more likely to lend to a project if its developer has a substantial amount of equity at hand, Malsin said.

“OHSU is probably looking for a developer with the capacity and cash to finance predevelopment and initial development,” Malsin said. “Especially if their developer is to be an equity partner, banks will want to see the money is there.

The $160 million Collaborative Life Sciences building will be located in the South Waterfront and provide education facilities for OHSU students in life sciences and bioengineering. OHSU plans to pay $70 million to construct the building on land south of the Marquam Bridge in Southwest Portland.  Construction is anticipated to begin in late 2011 and complete during the summer of 2014.