Carlo Catano and Victor Barry reopen Splendido
on July 28, including a revamped bar area.

Carlo Catallo is laughing. I've just asked him if he's crazy. Why, I wondered would any one want to open a fine dining restaurant in the middle of the worst global recession since the 1930s? "Well, my mom thinks I'm crazy," he says, "but people still need to go to restaurants and if we provide them with value as well as the best service and ingredients, we should be fine."

Catallo and Chef Victor Barry will reopen Splendido on Tuesday, July 28. The restaurant has a storied past, and was consistently ranked as one of Toronto's best places to eat by critics. But it wasn't cheap, and when the credit crunch cut off expense accounts, and Toronto diners tightened their belts, previous owners Yannick Bigourdan and Chef David Lee decided to concentrate on their new Queen Street venture, Nota Bene and sell Splendido. Catallo and Barry decided to buy it and reopen.

I ask if the new Splendido will be another bistro on Harbord, where a number of casual fine dining restaurants, like Tati, Loire and The Harbord Room cater to the Annex's academic and professional crowd. "No way!" he exclaims, "Our pricing is less than it used to be, and we're not doing tasting menus, but this is still fine dining. At the same time, we've designed the menu so that it provides a number of scenarios: you could come in and eat at the bar and have a glass of wine for $50 [a person], or sit down and spend more."

While Catallo insists he and Barry will retain the "polish and professionalism" of the Yannick and Lee era, they also have redesigned the restaurant with the vivace of the Franco Prevedello and Arpi Magyar era of the 90s. They've opened the windows so you can actually see in and out, for instance. And Catallo describes the new look as moving from "earth to sky", using words like "open" and "light".

A quick look at the new menu confirms Catallo's contention that this isn't a bistro (with mains in the high 20s to 30s per plate), but Chef Barry is also using a wood burning grill to offer a pork chop. Quality of ingredients remains an absolute, explains Catallo, "But instead of a tenderloin, we'll offer a flat iron steak."

Catallo and Barry seem to have calibrated a balance between pent-up demand for a new fine dining restaurant (the last big opening was Nota Bene) and the economic reality. Their theories will be put to the test this week, but one vote of confidence the two have enjoyed has been from their staff, most of which are veterans of the restaurant. It means a lot to Catallo that they stayed, he says. Catallo remains calm and ends our conversation by explaining his ultimate plan: "you just have to be honest and put all your heart in it." And so a new era begins.

Visit Splendido.ca for more information. Malcolm Jolley is the editor of Good Food Revelation.