Bowes Lyon House, in Stevenage, Hertfordshire, opened nearly 40 years ago, when it was known as "the largest street corner in Britain". A week of special activities is planned for the October half-term to mark the completion of the work.
Known locally as Bowes, the centre will offer young people a range of facilities, including a skatepark, gym, live-music room, theatre space, music studio and coffee bar. Renovation began last year after the building was flooded by vandals.
Funding for the work has been provided by the local county council and Connexions Hertfordshire.
Chris Garcia, head of youth service at the county council, worked at Bowes in 1986. She said the centre was "very important" for young people because of its town centre location. Garcia added: "We want to raise the profile of it because it hasn't always had the best reputation."
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