Two companies have the Brookwood Village at Lakeshore Drive under contract and announced plans to develop the property into a mixed-use project.

The new mixed-use district will have a public green space as its anchor, and this space will be surrounded by locally owned, upscale retailers; food and beverage options; new office buildings; hotels; and housing for both renters and homeowners. The plans include 350 high-end apartments.

The two companies under contract are an affiliated entity of Colliers International | Alabama, a leading real estate professional services and investment management company; and Arlington Properties, a leading multifamily development, property management, and construction firm.