HOLLYWOOD (CBSLA.com) — The favorite hiking spot for all of Hollywood’s beautiful people is nearly 15 acres larger Monday.

The Trust for Public Land finalized the $8.75 million purchase of nearly 15 acres of adjacent open space to expand Runyon Canyon Park.

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The money to purchase the privately-owned land came from $4.45 million raised and $4.3 million from the city’s Proposition K funds, a bond measure that raises $25 million a year for the acquisition, improvement, construction and maintenance of city parks, recreation facilities and other projects.

“Runyon Canyon is a beloved regional park that serves as a significant recreational resource for the people of Los Angeles,” said Councilman David Ryu, who represents the area.

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“This purchase will expand our city’s open and green spaces, protect our natural habitats, and create healthier communities for all,” he said. “Most importantly, the newly acquired 14.9 acres will forever be removed from the threat of development, and instead preserved for many generations to come.”

The land is to be added to the park as open green space and be donated to the Mountains Recreation and Conservation Authority. The city owns and manages most of Runyon, but the MRCA oversees the park’s open green space.

Runyon Canyon Park draws nearly 2 million visitors per year.

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(© Copyright 2017 CBS Broadcasting Inc. All Rights Reserved. City News Service contributed to this report.)