The former Orange police station on Byng Street will be refurbished and renovated to create a new site for the Orange Local Aboriginal Land Council.
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The OLALC took possession of the site at a ceremony on Tuesday.
Crown Lands deputy secretary Melanie Hawyes handed back the title deed to the property to the OLALC.
It follows a successful Land Claim on the site which was lodged in 2011.
OLALC CEO Annette Steele said the building would now undergo major internal works, including the fitting of lifts and an external spruce-up before it was unveiled as the centre of Indigenous activities and support in Orange by December.
She said the board had committed to 'creating a thriving hub, a community meeting place that will be a gift to the Orange community to enjoy' at the site.
She said about 28-30 staff would be based in the building when the works were finished.
OLALC chair Jamie Newman said it was the start of an exciting new chapter for the community and the site.
"We now own this place," he said.
"This can't just be a building, it's more than that.
"We know the old police station has long needed a facelift and a useful purpose and I'm happy to say that Orange LALC is going to give it one.
"We have a 15-year social development plan and are committed to continuing as a reputable service provider and setting a standard for our young people to drive further.
"This really is a magnificent opportunity and the board looks forward to changing the narrative as we lead this change.
"The site is now owned by the OLALC as a freehold title, which gives us the opportunity to develop relationships, drive economics and continue to provide for the cultural and social needs of our members and Orange's Aboriginal community as well as the whole Orange community."
Member for Orange Phil Donato, a former police officer, said it was great to see the building being utilised.
"This is something that's taken a lot of effort over many, many years," he said.
"It's going to be the heart and soul of this community."
Mr Donato said many jobs would be created in the renovation works.
Orange mayor Cr Reg Kidd said it was ideally located near Robertson Park and the Orange shopping centre.
"You couldn't get a better location," he said.
An official opening of the refurbished building will take place in December this year or January 2022.
Wednesday's event included a Welcome to Country ceremony which was delivered by Orange elder Uncle Neil Ingram.
Local Aboriginal dance groups Dyiramaalang Dancers and Yalbalinga Ngurumbang performed Wiradjuri welcome dances.
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