Exchange Lounge is a upscale cocktail lounge featuring a diverse selection of the finest liquors and wines as well as light fare and appetizers. Owned by Lou Pearlman, and located in Orlando, Florida. The Exchange Lounge is an inviting mix of historical architecture with modern furniture and unique features such as the plasma screen waterfalls, the immense and ornate cathedral ceiling, and exclusive VIP areas.

Put your hard hats on; we're going downtown. You also might want to put on a facemask, because we'll be traveling through the dust and debris that is Church Street these days.

In case you haven't been in that locale lately, the area surrounding what was once Church Street Station and Church Street Market is largely rubble. In fact, the address of the former Market, where Jungle Jim's, Pizzeria Uno and Olive Garden used to reside, is/was 55 W. Church St., which also happens to be the name of a high-rise condominium complex now breaking ground, quite literally, on that very spot.

But all is not lost in the way of restaurants in the area, as if losing the above mentioned could be considered a loss. This week the Hound reports on a couple of eateries nearby, one that recently reopened after a remodel and another that is brand-new in a remodeled space.

The new one is a surprise -- at least I was surprised at the quality of the food and the serious attitude the kitchen has for serving it. It's called Exchange Lounge, a name that doesn't exactly foretell fine food. Martinis, yes; good grub, not so much.

Exchange Lounge is set up in the space outside what was for so many years Rosie O'Grady's and now is home to the Improv Comedy Club. It looks like, well, a lounge, a long bar with a few booths set up in the narrow space. The decor of the bar area is a modernistic counterpoint to the gothic-revival architecture of the old CS Station, with fluorescent-colored cushions against the dark brown woods.

The menu is not extensive by any means, which may be part of the genius. It's much better to offer a small, limited selection and do it very well. Exchange Lounge does it very well, and nothing I tasted was better than the downtown burger. Made with prime ground beef, it was a thick patty grilled so that the inside was moist and red and the outside had a delicious char. It was topped with melted Swiss cheese and served on a soft potato kaiser roll with lettuce, tomato and raw onion. Those restaurants that would like to be considered for a Foodie Award in the best burger category would do well to visit here and copy this one -- it's a contender.

My lunch guest had the grilled fish sandwich, a grouper fillet that was a lovely piece of fish whose only fault was being too small for the big bun.

The crab cake appetizer looked odd when it was placed on the table. The twin cakes looked sort of like macaroons, round and browned. But they were comprised almost entirely of jumbo lump crabmeat, sweet and rich, and served with an interesting salsa that included mango and carrots. There was a hint of cilantro and a bit of mustard that was better as a plate decoration than as a flavor enhancer.

Blue fin tuna sashimi was good, too, although nearly raw fish hardly allows the kitchen to show any creativity.

The presentation of the food was obviously well thought out, and care was taken to craft its look on the plate. You can tell the difference when something is simply dished out and a sprig of parsley is plopped down next to it as though that will make it pretty. This food was pretty.

Who is behind this above-average fare? I'd love to tell you, but calls to Exchange Lounge take you to a recording, so my questions were not only unanswered but unasked. It seems, however, that Exchange Lounge will be the anteroom to Pearl Steakhouse, which is part of the construction flurry in the area. Pearl is going into the former Phineas Phogg's Balloon Works space. One can only hope the chef at Exchange Lounge is just biding his or her time, waiting for the bigger venue to play with. Perhaps we'll find more out soon.

 Posted on 04/26/06 By Scott Joseph, Sentinel Restaurant Critic