Correction: Due to a reporting error, this story indicates that three developers bidding on Parcel 3 were selected by the Boston Redevelopment Authority (BRA). They were, in fact, the only three developers to submit proposals to the BRA.

A 1,400-bed residence hall may be built across from Boston Police Headquarters on Tremont Street if Northeastern’s proposal to develop the seven-acre lot is accepted.

Under the proposal, which was one of three finalists chosen by the Boston Redevelopment Authority (BRA) earlier this month, Northeastern would build the residence hall, and provide $20 million to subsidize the costs to construct the rest.

The development would include 200 units of neighborhood housing, four commercial buildings, a youth center and a new location for the Whittier Street Health Center, which already leases space at the Northeastern-owned Renaissance Plaza on Columbus Avenue.

“The university is the sole funding source,” said Jeff Doggett, associate director of government affairs for the university. “Without us in the deal, it just doesn’t work.”

Doggett said Northeastern was approached by Madison Park Community Development Corp. and Trinity Financial to provide funding for the deal.

Madison Park is the same development company that partnered with the university to finance construction of Davenport Commons in the late 1990s.

In the Davenport deal, Northeastern agreed it would provide neighborhood housing on the lower levels of the Columbus Avenue residence halls.

One proposal, submitted by the National Center for African American Artists, includes about one million square feet of office and retail space, a hotel, 300 units of affordable and neighborhood housing and a 3,000-square-foot jazz caf