The abandoned Venetian island of Poveglia — site of a plague pit and former asylum — is about to take on a happier new identity.

On August 1, a group of Venetians will take possession of the supposedly haunted island under a 99-year lease from the Italian state and embark on a project to turn it into an urban park open only to residents of the Italian city.

The locals fought off stiff competition from property developers to ensure Poveglia remained a public asset.

In 2014, the island, which is around 7.5 hectares (18.5 acres) in size and sits in the southern part of the Venice lagoon, was put on an auction list by the Italian State Property Agency, opening it up to developers tempted by its peaceful but convenient location just three miles from St. Mark’s Square.

Several consortia raised money to buy it, including one tied to Luigi Brugnaro, the current mayor of Venice, whose group raised 513,000 euros ($600,000) but failed to gain approval from the state.