WATERTOWN — Three entrepreneurs, including a former owner of Alteri Bakery, plan to open a new market with a bakery, deli and butcher shop on Bradley Street.
The Watertown Local Development Corp. on Thursday approved a $50,000 loan for Mark S. Alteri, the former general manager of his family’s bakery, Stephen G. Winkler and Michael Schepis for their upcoming Alteri’s Italian American Market. The trio plans to open their establishment in the former Renzi’s Old Fashioned Meat Market building, 948 Bradley St.
Donald W. Rutherford, the CEO of the local development corp., also known as the Watertown Trust, said Mr. Alteri, who did not return request for comment, “indicated that the family recipe would be what they were using,” to make their bread, alluding to the renowned bread once sold from Alteri Bakery. The three partners would sell bread to walk-in customers and restaurants. In addition to freshly baked bread, the market would also offer submarine sandwiches, pizzas, pork sausage, beef, steaks, pork chops, imported goods like olive oil and other items.
“You’re adding different components, it’s not simply a straight bakery. And they’re keeping their overhead relatively small right now,” Mr. Rutherford said. “Based on their business experience, knowledge of the industry and low capital investment, I think it’ll be a profitable venture for them.”
The Watertown Trust’s loan approval requires that the three business partners pay it back at five percent interest over a five-year period.
Mr. Rutherford said he expects the three businessmen to open the market soon after finalizing their financing. The building they plan to occupy needs minor renovations, particularly pertaining to the layout.
The partners plan to hire three workers during their first year of operation and another three in their second year, Mr. Rutherford said.
Mr. Schepis, of SLR Home Improvements, deferred comment to Mr. Alteri. Mr. Winkler, owner of Lucki 7 Livestock Co., could not be reached for comment.
Alteri Bakery, located in the City Center Industrial Park, baked and sold bread to customers and retailers throughout the north country for almost 50 years before it closed this past winter.
Mark S. Alteri, Stephen G. Winkler and Michael Schepis plan to open Alteri’s Italian American Market in the red building at 948 Bradley St. that previously housed Renzi’s Old Fashioned Meat Market. Watertown Daily Times.