Thenue Housing Association's project, the Calton Heritage and Learning Centre, received a grant of £823,508 this week from the Big Lottery Fund's Growing Community Assets programme.
They will use the cash to create a centre celebrating the history and industrial legacy of the city's East End.
Calton, once the centre of the city's weaving trade, was a powerhouse of 19th-Century industry.
Charlie Turner, Chief Executive of Thenue Housing, said: "We are immensely grateful for this Lottery award to create the Calton Heritage and Learning Centre."
Maureen McGinn, Big Lottery Fund Scotland chairwoman, said: "Today's award will improve the lives of many local people, providing a range of opportunities for moving forward with training and job prospects and positively engaging with the Calton community in which they live, while paying homage to the area's rich heritage.
"We are delighted to be funding this project, which demonstrates BIG's commitment to making a difference."
The Big Lottery Fund is the largest distributor of National Lottery good cause funding and is responsible for giving out 46% of money raised to deserving projects.
Since the National Lottery began in 1994, 28p from every pound has gone to good causes and more than £28 billion has so far been raised with more than 380,000 grants awarded across the arts, sport, heritage, charities, health, education and the environment.
Earlier this month, the Big Lottery Fund awarded grants totalling more than £1 million to projects all over Glasgow, including; social project Gorbals Recycles, who were awarded £411,370, The Rainbow Care Centre in Greater Pollok, who received £160,779, and The Equal Say For Parents project, who were given £520,088.
Those grants were part of a wider package of 11 in Scotland, worth just over £4.3m.