Why not create a sense of community around a big screen for special occasions? Large format LED can be scaled to practically any size, therefore enabling you to accommodate a large audience. There a plenty of programs that residents are likely to prefer watching in company of others. Sporting events are the most common, but so too are game shows and discussion programs.
Audio can also add value. High quality music playback can substantially enhance the entertainment value of such a space and adding a microphone system can make it far more useful and effective as a meeting area. The provision of headphones for those hard of hearing can mean everyone else gets to watch at a sensible volume. These kinds of things are not expensive, you just need an AV installation partner willing to provide you the options.