That's called a community centre and used to be pretty common. Growing up we had multiple that were run by the local Catholic organizations, and I think there were also some that were run by the youth branch of the various political parties.
But a key component of such a place being success is having a certain kind of open culture. There's countries where if you throw 10 strangers in a room and return an hour later, you'll find 10 strangers on their phone, having not uttered a single word to each other.
People also have a tendency to divide into subgroups and isolate from each other. It's a step in the right direction and better than no community at all. But it can breed resentment and even violence. That's a common problem of community centres here.