A long-vacant exclusive club has opened in Toronto that will house Iron Chef restaurant

A prime piece of long-vacant commercial real estate in the heart of downtown Toronto is getting new life after plans for an Iron Chef restaurant at the site fell through several years ago.

Located at the base of an elevated theater park at 224 King Street, the 7,000-square-foot multi-story space was home to the first Canadian restaurant from Japanese iron chef Masaharu Morimoto.

But the celebrity chef pulled out of the project before the building was completed in 2015 due to construction delays, and partner INK Entertainment's idea to go in a different direction without him also fell through.

The space would eventually be vacant for the better part of a decade.

The Vintage Conservatory Wine Club is now taking reservations at the address and has a new King Street location listed as “coming soon” on its website after closing its original Lombard Street location in the fall with its Yorkville outpost.

The brand advertises itself as a “private members' club for wine lovers” that offers “a safe, welcoming and controlled environment for like-minded people to share their passion for wine, wine and popular private dining”.

Members can store their personal wine collections securely on the site.

“It's sad to admit that the day has come to say goodbye to our Lombardy location,” founder Costa Patiniotis said in a video posted on VC's Instagram account in November, adding that the team is “looking forward to it.” Our new location in the theater district, 224 King St. West.

Patiniotis confirmed to blogTO on Monday that the VC has taken over the space — which they've actually bought to secure in lieu of leasing — for a soft launch in the fall ahead of its proper debut, which is expected in March.

“We're finishing up the finishing touches,” he said, noting that along with the new patio, they've added 4,000 square feet to the large floor plan, plus a private event area on the fourth floor.

There are also two spacious lounges where members can network, share their wine knowledge and enjoy sophisticated cuisine created by the club's own chefs.

Designed with 20-foot ceilings and a full wall of glass windows overlooking the King, VC's new home sits on a former parking lot in the entertainment district next to the Royal Alexandra Theatre, directly across from Roy Thomson Hall and David Peko Square.

It's one of several desirable, high-profile spaces in the city that have been out of business for years, some occupied and others slated for demolition.