Old (American) geezer PoV - that sounds very similar to any number of fraternal and veterans organizations of a half-ish century ago. And not dissimilar to what many municipalities are trying to do with senior citizens' centers. And ...

Financially, the secret to the old fraternal and veterans halls was that they were built when it was (relatively) cheap & easy to build in America. And their membership was dedicated enough to pay for that, then do most of the work of running the place.

These days...a few such place and organizations persist. But mostly, relentless capitalism has optimized away American's willingness to undertake any activity which fails to enrich Wall Street.