Land Near Hollywood Sign to be Bought and Conserved

A conservation group is to buy the land around the famed Hollywood sign in order to protect the land from being developed. The Trust For Public Land secured the 138-acre piece of property for approximately $12 million, said the Associated Press.

The land was owned by Fox River Financial Resources, which purchased it in 2002. The conservation group has raised around $6 million to purchase the rugged land, known as Cahuenga Peak. The group wants to give the land to the city of Los Angeles to become Griffith Park.

In April, the option to purchase the piece of property will expire. The Trust For Public Land says they expect to have $12 million by then to finalize the purchase.