Previously, councillors deferred a decision to grant permission to build a supermarket that would have paid for the stadium, which supporters claimed had put the plans in jeopardy.
A partnership is now revising the proposals to see if the stadium can be built using money from smaller shops.
The plans are expected to be discussed by Cornwall Council members in May.
Truro and Penwith College, the Cornish Pirates rugby club, Inox Group and Henry Boot Developments are behind the revised plans for the multi-use stadium at West Langarth.
Julian Painter, director at Henry Boot Developments, said: "A supermarket would have provided funds sooner and generated more value.
"That is no longer an option but we are not giving up."
The supermarket plans were deferred earlier in March, but two other major retail developments in Truro were approved, which supporters claimed effectively marked the end of that proposal.
Mr Painter said the new proposal would split the original supermarket unit into smaller stores - including one retail store and non-food units.
He said the partnership was trying to "squeeze enough value from the development" to deliver about £8m of funding, with a further £2m coming from Truro and Penwith College, which will provide the £10m needed for the 6,000-capacity stadium.
Revised proposals for a stadium in Cornwall are expected to be submitted to the council.