Merseyside Somali & Community Association has secured £475,000 from the Big Lottery Fund to refurbish its centre in Granby Street.
The grant is one of the biggest ever awarded under the Reaching Communities Buildings programme.
Insaf Hagelsafi, centre coordinator, said "This grant will really open up our building. We will be able to invite new individuals and groups to use the fantastic new facilities and work together for the benefit of the whole community. That is why we called the project Building Links.
"Two years ago social landlord, Riverside, offered to gift the building to us for £1, if we could raise Big Lottery funding. We worked with Liverpool Charity & Voluntary Services to develop a business plan and write the bid and Comtechsa Community Architects created imaginative designs and guided us through the technical aspects of the project.
"Of course the real work starts now. We can't wait to get the building work finished and start working with the community to provide activities and services that meet real need in very difficult times."
Neil Townsend, divisional director of Riverside, said: "Our gift of the building, which was valued at £40,000, was approved by our coard, supported by tenants and the Homes & Community Agency. The outright ownership of a building in the neighbourhood has been instrumental in the success of the Big Lottery Fund application and will give a lasting legacy to the neighbourhood."
The main contractor to carry out the works at the 3,000 sq ft building has yet to be appointed. The work is due to start in March 2014 and complete in October 2014.