Plans to transform the town’s Oasis Leisure Centre will go in front of the council next week.
The proposals drawn up by Moirai Capital Investments Limited involve a £65m revamp of the site to include an indoor ski slope, water park, indoor arena, hotel and shops.
Moirai , under its X-scape brand, was behind the Milton Keynes, Castleford and Braehead indoor ski slopes.
The team includes S&P architects, Adrian McAlpine from Sir Robert McAlpine, ISG, Buro Happold, LDA Design and Stace.
Councillors will be asked to approve the development so the lease for the Oasis is granted as soon as possible.
The Oasis would be refurbished to an agreed standard within 12 months of the start of the lease and all development completed by 2014.
Cllr Keith Williams, Swindon Borough Council’s Cabinet Member for Leisure and Corporate Services, said: “I am delighted this proposal is being brought before the cabinet as it has the potential to be one of the most exciting developments Swindon has seen for many years.
“As we all know the Oasis is in need of refurbishment and this is a great opportunity to breathe new life into our leisure offer, bring significant benefits to the local economy and really put Swindon on the map as a major leisure destination. Our Leisure Strategy also highlighted that residents were keen to see a ski or snow dome facility in the town.
“We have also included stringent targets associated with the leases and have negotiated that the council will receive an annual income from the development.”