Some Bronx residents are trying to preserve a piece of music history while also trying to keep their housing affordable.

The residents of 1520 Sedgwick Avenue in Morris Heights are launching an effort to buy their building, which has long been hailed as the birthplace of hip hop. Residents are also trying to get the building landmark status.

The building was built in 1969 under the state's Mitchell Lama affordable housing program. But last year, the owner told the tenants he was planning to buy out the program and take it out of Mitchell Lama within a year.

Now the residents are trying to raise money to purchase the building themselves.

"They've decided that to keep it affordable for the very long term, the best way to do that would be to own it. So they know how important affordable housing is,” said Dan DeSloover of the Urban Homesteading Assistance Board. “They know they'll always keep it affordable."

"We're good neighbors, we're good friends, and we want to keep this community and this building. So we're willing to fight for this building to stay in the Mitchell Lama program,” said tenant Gloria Robinson.

"I have no place to go," said Mary Fountain, another tenant. "I don't choose to go no place unless I'm buying a house and I don't have lotto, so I ain't buying a house."

The buyer of the building has offered to step out and allow the tenants to purchase it -- at a price of $14 million. Now the task is getting the financing. The city has committed several million dollars to help, but tenants still only have around $11.5 million.

The 1520 Sedgewick situation is not rare according to housing advocates, who say affordable housing like Mitchell-Lama is dwindling by the thousands each year in the Bronx and citywide. The city says it added 3,544 affordable housing units in the Bronx during fiscal year 2007 and 20,446 since fiscal year 2003, as part of the mayor's new housing marketplace plan.

Senator Charles Schumer is lending his voice to the tenants' cause.

"People need a place to live," said Schumer. "They don't need a castle, they don't need a mansion, but they need a nice, warm, cozy place."

The building is also getting some support from a hip-hop legend. DJ Kool Herc, whose real name is Clive Campbell, held a party at the location in 1973 where hip hop music was played for the first time.

"We're still in it to win it," said Campbell. "We're still pushing. We are asking the community at large, and also the other community that sprung up from here, the hip hop community."

A coalition has been formed to help raise awareness about 1520 Sedgewick Avenue. To find out more information, check out the website www.save1520.org.