Arnotdale House in Dollar Park has lain empty for six years as Falkirk Council has tried to market it as a commercial property.
However, today the Scottish Government announced the local authority will receive £1,125,547 from the Regeneration Capital Grant Fund (RCGF) which supports projects in disadvantaged areas that engage and involve local communities.
Arnotdale House is one of 29 projects across Scotland benefiting from a £25 million windfall.
It was last used as a base for Age Concern locally but the B-listed building needed over £675,000 of upgrading.
After the council carried out the repairs officials were unable to find a tenant willing to take on the project.
Now plans have been drawn up to return it to community use.
The house was formally the home of philanthropist Robert Dollar who gifted the park to the people of Falkirk.
Announcing the grant today, Local Government Minister Kevin Stewart said: “I am delighted that 29 fantastic locally-driven projects will benefit from this major injection of funding. Spanning the length and breadth of the country, they will help regenerate local areas, stimulate economic growth and create new jobs.
“The focus of the projects range from tackling social isolation to services to address health inequalities, educational attainment, support ex-offenders and boost tourism. They are an excellent example of how national and local government are working together on shared priorities that benefit local communities.”