NEW YORK CITY-The bid by a trio of investors led by Chelsea Market owner Jamestown Properties to take control of Industry City in Brooklyn has some believing that the massive manufacturing property can become the next Navy Yard.

Jamestown and two other investors are in contract to acquire an as yet undisclosed share of the Industry City property that spans 30-acres and totals 6 million square feet in 16 buildings. Recently, Jamestown Properties hired Andrew Kimball, the former head of the city owned Brooklyn Navy Yard, who led that facility's turnaround. Jamestown officials recently reported to Crain's New York Business that Kimball would be Industry City's chief executive if its bid were successful.

Brooklyn Borough President Marty Markowitz and a number of others have praised Kimball's hiring. "With Andrew Kimball (and his) record of job creation and economic development onboard at Jamestown, they have a long-term commitment toward bringing quality manufacturers, artisan designers and high-end developers on a large and sustainable scale to the Brooklyn waterfront," Markowitz says.

Jamestown executives say they would like to transform the underperforming Industry City into a thriving manufacturing complex. "There's a variety of different uses, from food manufacturing to clothing to technology to media, that all want to come together and be near each other, where their creativity feeds off of one another in this kind of space," says Michael Phillips, Jamestown's chief operating officer. "The definition of manufacturing has changed, and there's a broader base of tenants who can use these types of spaces." See story in Crain's New York Business.