Construction of a year-round waterpark at the Truro Power Centre could begin as early as September.
Millbrook Chief Lawrence Paul said discussions with investors are still on going but anticipates the project will soon move forward.
"We're getting pretty close to signing some sort of partnership agreement," said Millbrook Chief Lawrence Paul told the Truro Daily News on Friday.
The $25 million project would include a 100-plus room hotel and convention centre attached to an enclosed water park so the facility would operate 12 months of the year.
Land at the proposed location, beside the Convergys call centre, has already been cleared at the business park, located along Highway 102.