The training and support provider will allow members of the community to restore the property in Scarborough.
Futureworks NY is used by people of all ages to help achieve personal potential through engagement and motivation.
It offers free mentoring and support services, including educational qualifications as well as practical skills, such as plumbing, confidence training and volunteering.
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Sarah Thornton, director at Futureworks NY, said: “In the past, we have really struggled to secure funding.
“Speaking to BEF has been a breath of fresh air – they were incredibly proactive and shared our enthusiasm for the project and supporting our local community.
“The project is now underway, and it is fantastic to see how transformative it has been for our learners.
“Everyone is getting involved with activities such as plumbing, decorating and gardening.
“It’s amazing to see that additional skills – such as budgeting and organisation – are also being picked up during the project.”