Queen Latifahs & Will Smiths??

Yesterday the tenants of 1520 Sedgwick, Kool Herc, and Senator Schumer held their press conference to unveil their plan to keep rents in the building affordable to residents. It turns out that the owner is asking $14 million and the tenants, through a private lender and city subsidies, can raise about $11 mil. So where’s the rest of the money going to come from?

Campbell [Kool Herc] called on "all the Queen Latifahs and Will Smiths" to step up with some financial help Tuesday.

"We’re asking all those guys you see in Forbes magazine that are living hip hop to recognize this building," he said.

Link

Eskay's right--what makes residents of this building any more deserving of affordable housing than any of the other people in the Bronx? Also, how 'bout actual Bronx-bred people ante up (Bambaataa, KRS, Kool Keith), rather than a New Jersey-an and a Philadelphian?

The Birthplace of Hip-Hop On August 11, 1973, in the first floor recreation room of 1520 Sedgwick Avenue, hip hop was born. It was on that day that DJ Kool Herc, known as the founder of hip hop, and his sister threw the first hip hop house party. Scholars, musicians, and the media widely recognize 1520 Sedgwick Avenue, aka General Sedgwick House, in the Bronx borough of New York City, as the birthplace of hip hop, a uniquely American musical genre and culture that has taken over the world. In recognition of its important place in American history, in July of 2007, 1520 Sedgwick was declared eligible to be listed as a state and federal landmark. Congressman Serrano of the Bronx honored Sedgwick and Kool Herc in the Congressional record. Now 1520 Sedgwick is at risk of converting to market-rate housing! 1520 Sedgwick was built in 1969 under a state program to provide quality affordable housing for New Yorkers. This affordable housing helped revitalize the Bronx and made it possible for working families like DJ Kool Herc's to thrive and create the communities that gave rise to hip-hop. The owner of 1520 Sedgwick plans to remove the building from this affordability program by February 2008! The owner of Sedgwick intends to sell the building to a private equity investor who has already taken several buildings out of the affordability program in the Bronx. As gentrification sweeps through New York City, the low and moderate income families who have lived in these communities for decades are being pushed out. You can help! The tenants of 1520 Sedgwick refuse to be swept aside! They are organizing to preserve their building and they need your help. The 1520 Sedgwick Tenant Association has been working with the Urban Homesteading Assistance Board (UHAB) and Tenants & Neighbors to preserve their buildings and help them convert 1520 Sedgwick into a permanently affordable, limited-equity cooperative. UHAB has entered into negotiations with the companies who control 1520 Sedgwick and they have offered to sell the building to UHAB and the tenants. Using money from the State and City of New York and your contributions, we hope to reach a fair purchase price and save 1520 Sedgwick as affordable for the next generations of New Yorkers!