Lottery chiefs are backing the launch of the Dalmarnock Legacy Hub, which is being built next to one of the Commonwealth Games venues.
The Big Lottery Fund has handed over £1.25m towards the building costs of almost £5m for a community centre, which will include a GP surgery, children's nursery, chemist and shop.
The services and facilities were lost during redevelopment work for the multi- million pound Emirates Arena complex, Sir Chris Hoy Velodrome and the Athletes' Village.
The lotto cash comes several months after construction work began, when Glasgow City Council agreed to sell a plot of land next to the arena for just £1 to the People's Development Trust.
Local councillor Yvonne Kucuk said: "This award really is a dream come true -one which will allow us to deliver on our ambition to create a lasting legacy from the 2014 Games.
"This investment in our will ensure that the project continues to design and deliver the much needed services that will help change and shape the lives of people in the communities of the East End for generations to come.
"The legacy hub will provide up to 60 jobs as well as a nursery school, GP surgery, pharmacy, community cafe and shops and community space and a programme of community activities for all local residents, from kids' clubs to employability support and training."
Maureen McGinn, who chairs Big Lottery Fund Scotland, added: "Our Growing Community Assets fund shows just what can be achieved when a group of people are encouraged to take control of, and develop, their own local assets.
"The new Dalmarnock Legacy Hub is a wonderful example of a community owned and managed project that will have a huge impact on the regeneration of this part of Glasgow's East End.
"On top of that, it will also leave a lasting legacy from the 2014 Games that will continue to bring new social and economic opportunities to local people for years to come."
The community led project has attracted £2.3m in funding from the Scottish Government and another £1.2m from Clyde Gateway chiefs, who are tasked with regenerating the East End.
Building work began in December but the partially completed centre - with walls, roof and windows expected to be in place - will be mothballed during the Games. The Dalmarnock Legacy Hub is scheduled to open its doors in January.
There's never been a local children's nursery but one will be set-up at the hub and locals who have undergone college training are expected to be recruited to staff it. Rental income from a GP surgery, chemist and shop will help meet the hub's bills.
Training providers and other agencies will also be encouraged to hold classes in the centre, to encourage local people and especially teenagers to try to achieve their full potential.
Ms Kucuk believes the hub will be a catalyst to help locals free themselves from the poverty trap and to think the unthinkable "go to university, train for work and live a productive life."