A deal has been struck in a 15-year battle over the future of two reservoirs in Cardiff.
Welsh Water has bought Lisvane and Llanishen reservoirs from Celsa UK.
Campaigners have fought plans to develop the site ever since former owner, Western Power Distribution, put forward plans for 300 homes in the area.
Reservoir Action Group chairman Richard Cowie said the community was "absolutely delighted".
"I think it'll mean a tremendous amount, it has been a big issue since 2001," he said.
"It was a much-loved beauty spot before Western Power moved in and put up all the fences and closed off public access.
"The strength of their feeling is shown in the fact we've fought for 15 years to try and stop the development and get this site reinstated."
South Wales Central AM Andrew RT Davies welcomed the news.
"Local residents and campaigners have spoken as one voice on this issue and it demonstrates what can be achieved when we work together.
"The reservoirs can be a real driver for good in the area and so the hard work will continue to ensure the potential economic and environmental benefits of this announcement are delivered for the local communities."
Welsh Water's chief executive, Chris Jones, said the 999-year lease would strengthen the resilience of services.
"We have been working closely with Celsa UK to secure this agreement, which offers a truly sustainable solution for the site, its recreational users and local residents," he said.
Julie Morgan, AM for Cardiff North, said: "I have been campaigning for over 12 years to keep this much-loved area free from development and for the reservoirs and the surrounding land to be used for water supply and recreational activities."
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