A plan announced Monday to revitalize Industry City on the Sunset Park waterfront promises to turn the area into a thriving business hub.

The area from 32nd Street to 41st Street from Third Avenue to the waterfront are currently made up of many vacant buildings. New owners say they want to transform the area with manufacturing, design, technology and media businesses.

They have already started small-scale renovations and are leasing space, but now they want to do a major overhaul and lease out the rest of the property.

Residents in the area have their concerns about the massive project. They want to know if the new jobs created will go to borough residents.

Industry City CEO Andy Kimball told News 12 that he is working to make sure the community is part of this project.

The city still has to agree to rezone the area and make major improvements to surrounding roads and infrastructure. The owners say they are confident the details will be ironed out in the coming years.