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Trust manager Mandy Groshinski discovered the fire on May 23 after returning from Glenorchy to get help after a lightning strike caused a power blackout at the property.
Mrs Groshinski said that after three years of planning, the trust would soon begin an upgrade of an accommodation building known as the Annex, which, when completed, would take over the role of the homestead until a replacement was constructed.
The upgrade would include building an additional bedroom to make a total of three, and upgrading the veranda, kitchen, lounge and bathroom facilities.
Another project predating the fire that had been slated to go ahead soon was the relocation of the old Glenorchy School House to Paradise and its refurbishment as a function and meeting venue.
Meanwhile, the homestead's bedroom wing - which survived the fire - would be repaired and upgraded.
The trust's 129ha property at Paradise is used as an accommodation facility and venue for weddings or other social events.
Mrs Groshinski said the trust had managed to retain most of its bookings for the coming summer, and together, the three buildings would fill the void left by the loss of the homestead, and allow it to start generating income again, she said.
The aim was to have them completed by November 1 when it would hold an open day and ''Rising from the Ashes'' picnic.
It was ''unbelievable'' the three projects were coming together so soon after the fire, Mrs Groshinski said.
''Fingers crossed, the timing couldn't be better. They are going to be the saving grace for us.''
The trust has received a grant of $70,000 from the Central Lakes Trust in the past week towards the Annex and Glenorchy School House projects.
Trust chairman Tom Pryde said it planned to rebuild a homestead ''of some description'' within two years, but the Annex and schoolhouse projects would allow it to maximise its income in the meantime.
Depending on the outcome of other funding applications, he hoped work on the projects would begin by the middle of next month.