The Premier Inn and a nearby 600-space multi-storey car park will open in April and May as the flagship scheme is finally unveiled to the public.
Recruitment has already started for staff in the bars and restaurants in the town's new entertainment complex.
The gold-clad Southwater One building – which will include a new library, Telford & Wrekin Council's First Point contact centre, a café and restaurant as well as access to the Town Park – will open its doors in July.
And the Cineworld Imax cinema, as well as Pizza Express, Harvester, Chimichanga, Zizzi, Bella Italia, Nando's and Wagamama, will open during July and August. Telford & Wrekin Council leader Councillor Kuldip Sahota said: "The aim of the Southwater development has always been to rejuvenate the town centre and create a vibrant night time economy.
"It is extremely exciting that we are now on the verge of the buildings being completed and fitted out and that we now have a likely schedule of openings.
"We have worked closely with our private sector partners Citygrove and Southwater Event Group, and the Homes and Communities Agency to deliver this development.
"With other major investment in the town centre, including the new Asda, the planned £200m redevelopment of the shopping centre, the second phase of Southwater to include residential properties and the associated changes to the highways infrastructure, the future looks very bright for Telford."
The £250 million development, which is transforming the skyline of the town centre, is close to completion, with each buiding being fitted out and the exterior landscaping being done.
The 11-screen Cineworld cinema has already started to build up a fanbase on social media, with more than 680 people liking a Facebook page dedicated to the cinema after it launched on Saturday. The new general manager, Phil Jones, has also used the page to introduce himself ahead of the opening in August.
He said: "I'm very proud to say that I will commence my duties as general manager of Telford on May 1 – where I will set about assembling my team and preparing for the launch of the site in August. I am passionate about providing the best possible cinema experience for my guests."