Belfast Central Mission (BCM) is planning to build a Dementia and Nursing Care Home in Millisle.
BCM will submit a planning application in the next few weeks for the project on the former Childhaven site.
The home is intended to offer 24-hour residential and nursing care, with 64 ensuite rooms for people aged 65 and over.
The project also aims to create 60 full-time equivalent jobs in a rural area of high unemployment.
A public consultation will take place on Thursday, January 30, from noon-7pm in Millisle Youth Forum.
BCM’s Nicky Conway said the aim is to create “a genuine home” including “single-storey households of eight residents with their own front door”.