In 1997, Brookwood Village was purchased for $35 million by Colonial Properties and renamed "Colonial Brookwood Village." Colonial embarked almost immediately on an extensive $50 million overhaul which was completed in 2001. Major additions include a new two-story atrium with a food court on the upper level with a "front entrance" for the mall, facing a new outdoor shopping street, modeled on "lifestyle centers" like the Summit Birmingham. What had been a relatively anonymous interior-facing design was transformed into an attractive outdoor space with a pedestrian bridge over Shades Creek and a shared terrace for two anchor restaurants. This outdoor space also provides outside entrances for several mall tenants, features limited parallel parking, and serves as a valet parking station. The street is also part of a six-mile (10 km) long walking trail which follows Shades Creek from Green Springs Highway to Jemison Park in Mountain Brook.