The vertical farming industry has faced major setbacks in recent years as many companies have undergone restructuring. But if we step back and look at the massive amounts of capital deployed, time to profitability, and lofty unmet promises, another opportunity emerges– the idea of smaller, decentralized, “neighborhood farms” that aren’t vying to save us from the most dire threats of climate change nor generate outsized venture returns. Instead, such farms could service local communities of restaurants and consumers while also serving as a “third place” that doubles as an educational and events center. That is the model that Farm.One, a Brooklyn, NY-based startup is now doubling down on as it enters a new chapter following an equity recap by DK-Bell Holding, a family office “focused on making long-term, strategic acquisitions of stagnant, out-of-favor and troubled businesses in the Food & Agritech sector.” Starting with its current 10k sqft farm in the Prospect Heights neighborhood, the company is building a template it hopes to replicate across other New York communities as well as urban metropolitan areas with vibrant food scenes like Chicago, DC, and Miami. This week, HNGRY took a tour of the farm and spoke with its new CEO Derek Pitts, who acquired the business last summer.