The place sounds pretty great, it's going to keep the same general layout as the House, with a big main stage and tables around it, and there will be Moulin Rouge-style stage shows.
They're going to fix up the interior and the run-down exterior and give it more of a French, vintage 1920s feel. The only concept drawing I've seen has been this Van Gogh painting, "Moulin de la Galette" (below.) That would be pretty cool, a windmill on Georgia Avenue!
They plan to have a bunch of French cocktails: of course traditional ones like the French 75, the St. Germain cocktail (champagne, St. Germain elderflower liqueur and club soda), plus other ones Spike himself invented named Le G-String, Paris Eau de Nuit, and Mme. Pamplemousse.
The cuisine sounds pretty good too, it's a bit more upscale and slower than Spike's places like We the Pizza and Good Stuff Eatery, where it's fairly quick. Dishes have French names and include the mussels from Brussels, escargot-go dancer, lingerie boulangerie, which is a meat and cheese plate, and my favorite, the sexy French onion soup.
The place will keep The House's permits, and is expected to open in a few months.
Here's the concept art and the current facade.