Work is due to start on transforming the old tennis courts and skating park into a modern multi-use games area, including fencing, goals, basketball hoops and an adjacent youth shelter.
Dubbed Poulton Youth Space, the project is the culmination of a lengthy consultation with various community groups and has been made possible thanks to £43,000 of Big Lottery money.
This has been matched by Wyre Borough Council, while Lancashire County Council is funding the youth shelter after it was identified by young people as a worthy beneficiary of Lancashire's Youth Bank
Councillor Lynne Bowen, Living healthily portfolio holder for Wyre Borough Council, said: "The scheme is part of the council's play strategy which helped determine where best to create innovative new play facilities for children and young people.
"We're delighted that our plans are soon to become a reality and look forward to seeing our local youngsters making the most of their leisure time in a safe and appealing environment."
Poulton Youth Space is one of three projects sharing a total grant of £219,000 from the Big Lottery Fund. Schemes are also on-going at Martindale Park in Fleetwood and Hawthorne Park in Thornton.