The Twitterati were texting themselves into a frenzy over Figlio last week, each rumor wilder than the last. Joe’s Eggs, the restaurant’s iconic late-night dish, was being 86-ed. The restaurant was being converted to a Forever 21 outlet. The staff had found a cure for cancer. It was all very amusing. But when a television reporter called co-owner Phil Roberts to verify that the 25-year-old Uptowner was closing, Roberts got ticked off.

“Closing?” he said. “We just re-upped and signed a new 20-year lease.”

Not that change isn’t coming to Calhoun Square’s grand dame; just nothing quite so drastic. “It’s time for the place to get re-potted,” said Roberts, one of the restaurant world’s reliably colorful quote machines. “We’re not going to throw the baby out with the bathwater. It’s still a wonderful business, but the place is tired,” he added, noting that the restaurant’s long-standing growth curve has flattened in the past 18 months, and its last (and only) remodel was 13 long years ago. Maybe that explains that recent billboard that summed up Figlio’s situation up rather nicely: “Working the corner since 1984,” it said, accompanied by a photo of a tough-looking broad. “What else can you do?” Roberts said with a laugh.

Plenty. In September, the restaurant is closing for a top-to-bottom remake. Details are few, as the program is still in the planning stages. “Right now we’re assessing the implications with the ADA [Americans with Disabilities Act],’ said Roberts. “When we had it built we had two levels, and we couldn’t do that today without ramps. We’re looking at the restrooms, the kitchen, all those things, just getting our minds around that.”

The menu is also getting an overhaul (”We just sent [chef] Todd [Bolton] to Italy to snoop around for a week,” said Roberts), although it will continue to focus on Italian-inspired flavors, peppered with American components. The Figlio name is probably not long for this world. “We’re having a big debate about it,” said Roberts. “My inclination is that we’ll change it, but my feet aren’t set in concrete on that one. Do we give up the brand equity? To that, I say, look, Pronto [Ristorante, the company’s former Italian venture in downtown Minneapolis] had an 18-year run, but then we changed it to the Oceanaire, and look what happened. You bet the farm with every single one of these things.”

This much he does know: Parasole Restaurant Holdings, Figlio’s parent company, is bullish on Uptown (It’s not the only one: Kitchen Window, another original Calhoun Square tenant, is moving into larger digs in the shopping center this fall, consolidating its retail store and cooking school into a single street-level space). “Uptown is going to become an even bigger magnet,” said Roberts. “The more joints, the more people.”

In addition to sticking with the Figlio location (the company also operates Chino Latino on the next block), Parasole has also nabbed a second Calhoun Square address, in a space roughly 80 percent the size of Figlio, located in an expansion currently under construction. “It’s barely started, we’re at least a year away,” said Roberts. The formula? “It’s going to be Brady Bunch-ey, whatever that means,” said Roberts. “We’re still threading the needle.”