Clubs are businesses that can locate anywhere. Just because the current location is being redeveloped, does not mean it can't relocate - or have a new concept take its place in the community. If it is a successful business, have no doubt that it will continue.
I'm tired of hearing about operating for profit businesses treated like untouchable heritage architecture like the real jerk in riverside and countless other examples!
Unless I misunderstood your post, that may have been the worst example to choose. The Reak Jerk is having problems with relocation due to complaints from condo owners.