Tuesday, March 04, 2008

NEWS: 1520 Sedgwick Saved For Now

The birthplace of hip-hop may be saved from gentrification, for the time being. In an unusual move, the city’s Department of Housing Preservation and Development has rejected the sale of 1520 Sedgwick Avenue, a culturally iconic west Bronx apartment building, to a high-profile real estate developing group, saying that the financing for the estimated $9 million purchase price is not viable under the current rent restrictions, according to an announcement made by government officials on Monday afternoon. Read more over at the NYTimes.

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1 Comments:

Anonymous Mike Belgrove said...

One of our guys over at Highbrid Nation did a nice post on DJ Kool Herc saving the "birthplace of hip hop". How sad would it be to have such a historic landmark destroyed? It's so important that people of the hip hop culture don't lose our roots.

11:27  

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