Trend count: Fresh and local? Check. Communal table? Check. Ossington Avenue? Check. Designer lighting? Check (All photos by Karon Liu)

Paul Boehmer’s soon-to-open restaurant is like the cherry on top of the Ossington sundae. The eponymous eatery was one of the last to obtain a restaurant and bar permit before the city imposed a one-year moratorium on new establishments last May. “People around the neighbourhood thought that I was opening a nightclub, but since I told them it wasn’t the case, I haven’t received any complaints,” says the former Stadtländer apprentice, who has also cooked at Rosewater Supper Club, Six Steps and Scaramouche. He expects Boehmer to open in less than a month—about six months later than originally planned.

This new addition only compounds Ossington’s reputation for having the city’s greatest density of quality cooking talent. Across from Boehmer are Corinna Mozo’s Delux and Paramour, the fine-dining French bistro owned by the duo behind Levack Block. The buzz around Teo Paul’s Union is still strong, and hours-long queues at Pizzeria Libretto and Foxley speak to their status as perennial favourites. The neighbourhood’s ethnic roots are evident in the two rival Vietnamese joints (the Golden Turtle and Pho Thien Thanh), and Salt Wine Bar (also one of the last places to sneak in before the ban) is set to throw open its doors any minute.

As for Boehmer, he’s bringing to Ossington his take on Canadian cuisine, with an emphasis on local and seasonal ingredients and the occasional exotic import. “I’ll be making my signature dish, a pan-seared foie gras with blackcurrant purée and maple-glazed mutsu apples,” he says. “I came up with it when I worked at Opus. They still serve it there because people complained when it was taken off the menu.” Other ingredients he’ll have in his kitchen include caribou, sweetbreads, homemade ravioli and Ontario cheeses supplied by Cheese Boutique.

The simple and spacious interior is a collaboration between Boehmer, Roy Banse and furniture designers Brothers Dressler, who created the long communal dining table (“It’s boring to sit by yourself at dinner,” Boehmer says) and giant wooden chandelier dripping with Swarovski crystals. The space’s previous incarnation—a garage—is evident in the concrete floors, exposed-brick walls and incredibly high ceilings (a bonus; Boehmer is six-foot-seven). Elements of Boehmer’s home life are also sprinkled here and there, such as a portrait of him at Stadtländer’s farm and paintings done by his late father.

Next door will be Boehmer’s retail space, set to open later in the spring. Using Dean and Deluca as an example, Boehmer says the shop will have prepared meals, cheese, meats, sauces and vinaigrettes prepared by him or other local chefs. What’s missing from the strip, he says, is a bakery or a shop that draws people during the day.

As for criticism that Ossington will become a gentrified, cookie-cutter party zone like Queen West, Boehmer says the landlords here are devoted to upholding the street’s new-found reputation as a gourmet destination, and are selective about whom they let in. “Everyone has their own niche, so there’s no competition. This is the street for food, and there isn’t another place like this in the city.”

Boehmer, 93 Ossington Ave. (at Humbert St.). Opening soon.

Ossified: The avenue is changed forever (Photo by Dawn Paley)

How much more can Ossington take? A lot, it seems. The avenue’s seemingly endless gentrification will take another step this summer when chef Paul Boehmer opens his first restaurant, Böhmer. After considering Queen West and Yorkville, the former Rosewater Supper Club chef set his sights on a 5,000-square-foot single-storey building at 93 Ossington Avenue. “I see a real surge of restaurants on Ossington. It’s bringing the whole street alive, and it’s full every day,” says the chef, whose credits also include Scaramouche, Atlas and, more recently, Six Steps. “If you capture a reasonable market—like, don’t charge $45 for an entrée—and keep it to a price range where people can afford it and hang out, they’ll keep coming back.”

Boehmer sums up the menu with one word: local. “I’m going back to my roots, to when I apprenticed with Michael Stadtländer 25 years ago,” he says, noting that caribou and foie gras will be some of the items featured. “I’m also working with Michael Potters [Harvest, Spoke Club], and there’s going to be a market concept on the side where we’re going to sell preserves and vinegars.” He estimates appetizers will cost $10 to $20 and mains $20 to $30.

The dining room will have a recycled wood motif, done by local furniture makers Brothers Dressler. The decor will be a collaboration between Boehmer and Roy Banse, whose clients include the Toronto Film Festival and condo builder UrbanCorp. And to get the neighbourhood involved, he plans to display artwork and photography by locals.

As for the vanity moniker, Boehmer says it wasn’t his idea. “I got convinced by my friends—mainly Adam Calhoun from Oyster Boy, who insisted on it. So the signage is my signature.”

The centre of the universe: Bay Street goes gastronomical (Photo by Jim U)

There’s no question that investing in a restaurant is a high-risk venture. That said, many of the city’s swankiest downtown dining rooms are partially owned by investment-savvy Bay Streeters—those who should be the first to spot a bum deal. Czehoski, Centro, Six Steps and the aptly named Bottom Line are just a few of the dining establishments fed by Bay Street assets. It is no coincidence, then, that Toronto’s golden age of culinary evolution matched up with a golden age of culinary investment. In the boom times, an underperforming investment (even if it was a restaurant) was compensated by market gains. But when the TSX started to slide last year, restaurants got a double whammy: not only were expense accounts drying up, but so was investment capital. Suits who diversified into the restaurant industry suffered, too, prompting us to ask, why keep investing in restaurants?

Ed Ho, owner of the Danforth’s Globe Bistro, doesn’t mince words on the subject: “Restaurants are the most illogical investment, especially if you’re not an operator.” Ho explains that, with nearly four out of five dining destinations failing within one year of opening, the reality of the biz is rougher than many realize. Chef Nathan Isberg agrees: “It’s kind of like me selling widgets. At $1 million or less, it’s way more complicated and frustrating than a $10-million lower-risk business.”

Investors, though, are not always looking to turn a profit on their restaurant; what interests them may be the scenester appeal or having a hand in an operation they love. For one investor who prefers not to be named—let’s call him Brad Bayleaf—putting cash into a restaurant is “more about fun” than finance. He and some colleagues bought into a trendy downtown restaurant when times were good. “It is a bit of a product of excess, for sure,” he says, and compares the practice to buying a racehorse: it’s more about being in the race than the big win.

The social capital doesn’t hurt, either. “It’s neat to bring clients and say, ‘I’m a part owner here,’” says Bayleaf. Even in these tough times, when cocktails are better suited to self-medicating than courting clients, it can’t hurt to have a place where everybody knows your name. Vertical—a restaurant with loads of Bay Street backers—is located at the city’s financial epicentre at First Canadian Place and does a brisk power-lunch business. But even with its plum location and packed tables, managing partner Joe Alberti sees a shift. “People are changing the way they spend,” he says. “Expense reports are being scrutinized more.”

Jamison Kerr, owner of Crush Wine Bar—which is entirely Bay Street funded—has also seen a change in the climate. He’s closing the deal on a new restaurant, a traditional English pub called the Queen and Beaver. “People aren’t cash rich the way they were, so to get money, they have to sell stock,” he explains. This means the stakes are high for restaurants. “No one is giving me money for the hell of it now; people want to see a return on their investment.”

It’s one more kick to an industry that’s already down, and a rude awakening for those indulging in playful side projects. What does Bayleaf—whose firm folded in 2008—say about the experience? “I would be a bit more cautious next time.” Perhaps a racehorse would have been a better bet.

What goes into ethical meat? (Photo by Luis Ramirez)

• Consumers are willing to pay much more for ethically produced meat, but who really knows what the label means? Here, a look at what goes on before the meat hits the counter. [Toronto Star]

• Two thousand people attended the funeral of George Koutroubis, the owner of Six Steps restaurant, who was found dead on February 22. [CTV]

• Forget recession discounts—now entire meals are being given away for free. Every day, one lucky table at Beerbistro wins a meal on the house. [National Post]

• Break out the skinny jeans and head west. Parkdale’s bars and restaurants are showcased during the neighbourhood’s inaugural Fireside Culture Week. [Martini Boys]

• Sick of the $4-coffee jokes, Starbucks’ American stores have introduced a $3.95 breakfast that includes coffee, a sandwich and a cup of oatmeal or coffee cake. [New York Times]