There is a lot of activity going on across the greater Birmingham area involving commercial and residential real estate alike, with several projects that promise to contribute to the local economy and generate buzz for the area. Here is the latest news on Birmingham real estate for April 2014. Brookwood Village Purchased by Cypress Equities Brookwood Village, the mixed-use development in Homewood featuring a 604,000-square-foot mall, 41,900-square-foot retail building, and office building with 170,000-square-feet of office space, has found a new owner. Cypress Equities, a firm based in Dallas, recently purchased the development from Colonial Properties Trust. The new owners are focused on developing a new shopping experience for customers, as well as a new mixed-use experience for commercial and residential tenants alike. New Downtown Mixed-Use Development Announced A new mixed-use development has been announced, this time for the downtown district. RGS Properties announced plans to develop 36 apartments and 9,200 square feet of retail space, to go on the corner of 20th Street and Third Avenue South. Starbucks has already agreed to be in the new development, which could grow to more apartments and up to 55,000 square feet of retail space. There could even be a grocery store placed on the spot, which would be new for downtown Birmingham and a great addition to the area. The new mixed-use development will likely gain suitors quickly, considering the fact that UAB continues to expand into that area. It’s an exciting time to be in real estate in the Birmingham area. Birmingham real estate continues to heat up and opportunities continue to abound.