The club, in the Ventnor's former NatWest building will have various uses, including film screenings, comedy nights, acoustic music sessions, poetry, art exhibitions, wine tastings and more.
There will also be a bar, food lounges and WiFi facilities, where people can relax, network and meet others who share a love of the arts.
Steven Izett, director and owner of the club, said: "We’re now in the final phases of installing the electrics, security and audio-visual systems, fitting the carpets and readying ourselves for the delivery of the sofas and armchairs before the members’ preview event in mid-February.
"It’s been a process of discovery and one which will continue. During the refurbishment we’ve discovered an amazing piece of 1924 architectural design, along with all of the snags that false ceilings and 70s cladding have been hiding.
"And when we’re up and running the club, our activities and even our wine list will be reviewed in response to members’ feedback as we discover their preferences."
Ventnor Arts Club is inviting applications for membership at www.ventnorartsclub.com