Officials expected to attend include Mayor Frank Jackson and representatives from Jacobs Entertainment, New Zealand-based Marinescape, FirstEnergy and AMPCO.
Jacobs Entertainment announced last month that it had secured the $33 million needed for Phase I of a new project, an aquarium in the Powerhouse on the West Bank of The Flats.
The opening should be sometime in late 2011. It will occupy more than 70,000 square feet in the Powerhouse at Jacobs' Nautica Entertainment Complex.
The project will include a SeaTube, a pedestrian tube that allows visitors to walk through the middle of the aquarium. Phase II is being designed at an estimated $40 million.
In addition to the main tropical walk-through tank, the Nautica Aquarium will feature special exhibits on the Great Lakes, Lake Erie, the Cuyahoga River, a fresh-water Asian exhibit and a Discover/Education exhibit.
The aquarium will have classrooms with a full-time teaching staff, offering lessons developed in conjunction with local boards of education.
The staff is expected to collaborate with local schools and universities on research projects and develop local community-based ecological and educational outreach programs.
Patrick J. McKinley, executive vice president of Jacobs Entertainment, said, "We expect this to serve as a catalyst for additional development for years to come."
The aquarium will be a U.S. first for Marinescape NZ Ltd.
The entire project is expected to bring in 400,000 visitors a year and boost the local economy by $10 million.
To make room inside the Powerhouse, The Improv Comedy Club moved next door to Shooters and the Howl at the Moon saloon closed two weeks ago.