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BOLTON -- The Lake George Land Conservancy announced Wednesday that it closed on a land purchase in Bolton that has been in the works for years.

The organization’s executive director, Nancy Williams, said the organization now owns about 500 acres, including the headwaters of Indian Brook. Numerous wetlands and other environmentally sensitive ecosystems are also present on the parcel, Williams said.

The organization bought the land from a conservation-minded owner for $500,000 who’s been holding it while the Conservancy finalized financing for the purchase, Williams said,

Grants from the state Environmental Protection Fund and the federal North American Wetlands Conservation Act helped subsidize the purchase.

The Conservancy said in a press release that it intends to construct a hiking trail network on the property this summer.

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