Opened in 1930 and known as the eponymous "Eaton's Seventh Floor", the venue was restored and reopened in 2003, renamed for its original architect.

The newly opened Auditorium was used for radio broadcasts on CKGW during holidays and special events.

Despite several changes in building ownership, and the efforts of local heritage advocates, the Seventh Floor was sealed off for 27 years and allowed to deteriorate; although it was protected by law, there was no legal obligation to use or restore it.

The Seventh Floor was eventually restored, after years of neglect, and was reopened in 2003 to much acclaim as "The Carlu" event venue.

Even the original Lalique fountain, which had long been believed lost, was restored to its place at the centre of the Round Room.

Concerts, dinners, galas, weddings, fashion shows and the presentation of the annual Polaris Music Prize are among the events that take place at the Carlu.

Itself a highly regarded work of Art Moderne,[5] the Eaton's Seventh Floor was at the heart of Toronto's cultural life for many years.

The Auditorium played host to the major performers of its day, including Billie Holiday, Duke Ellington and Frank Sinatra.

Carlu was responsible for all aspects of the dining room's design, from the lighting fixtures to the Royal Worcester china, the stemware, and the waitresses' black uniforms.

The entire building at 444 Yonge St. is designated under Part IV of the Ontario Heritage Act since 1975.