Mr Morey said the project has gained traction through the youth of Cobram, who have worked hard to see the project come to fruition.
"We held a youth forum in 2012, and they were asked 'What do the youth of Cobram want?' and the unanimous response was 'We want a cinema,'" he said.
"In 2019, we're ready to go and it's mainly because of the youth drive - they've done fundraising, they've done a whole lot of things and it's been a pleasure for me to support them."
The cinema proposal includes one cinema with a stage, seating 94 people, and a second cinema seating 65.
Mr Morey said cinema will employ one young manager and two trainees, as well as up to eight youth volunteers.
"It's a whole community, I mean people embrace this project because of the fact that it's youth driven."
The back of the Freemasons building will be renovated to fit the cinema, with the front being used as a reception and meeting room.
"It's a very unique project, the freemason fraternity have embraced it as well, and I think that's what got everyone talking - the unique partnership - and of course all the businesses that will benefit have supported us," Mr Morey said.
The building permits are expected to be finalised in the coming weeks, and Mr Morey said the cinema could be up and running as early as June.