[Congressional Record (Bound Edition), Volume 149 (2003), Part 17]
[Extensions of Remarks]
[Pages 23399-23400]
[From the U.S. Government Publishing Office, www.gpo.gov]




             TRIBUTE TO THE FORDHAM HILL OWNERS CORPORATION

                                 ______
                                 

                          HON. JOSE E. SERRANO

                              of new york

                    in the house of representatives

                      Thursday, September 25, 2003

  Mr. SERRANO. Mr. Speaker, it is with great pleasure that I rise today 
to pay tribute to the Fordham Hill Owners Corporation, which celebrated 
its 20th anniversary in October of 2002.
  High on a hill overlooking the Harlem River in the Bronx, New York, 
is the Fordham Hill community. Its nine buildings are situated on 12 
acres of beautiful landscaped property; lofty trees of many varieties 
reach skyward and the rare black furred squirrels give Fordham Hill a 
suburban feel.
  The residents of the Fordham Hill complex are among the fortunate few 
to have discovered this hidden oasis; where residents enjoy the 
benefits of the community's close proximity to various sites such as 
Yankee Stadium, the Bronx Zoo, and the Bronx Botanical Garden. In 
addition, a wide variety of nearby services, recreational activities, 
dining, shopping, schools, universities, hospitals, and churches add to 
the quaintness of the community.
  Mr. Speaker, this beautiful community was planned, designed and 
completed by the Equitable Life Assurance Society of the United

[[Page 23400]]

States in 1950. Initially created to serve as apartments for rent, this 
complex was transformed by E. Thomas Williams Jr., a skilled real 
estate investor and entrepreneur, who in 1980 outlined a plan to 
convert the financially troubled apartments into co-op dwellings. 
Williams, determined to buy the complex, raised funds, took out loans 
and eventually gained ownership of 65 percent of the complex. He and 
members of the original co-op committee worked diligently to gain 
support for the conversion by convincing tenants that a major benefit 
of buying their apartments was an opportunity for them to accrue some 
equity in their property after years of paying rent. By 1982 the 
conversion was in place, the Fordham Hill Owners Corporation was 
established, and Fordham Hill became the largest privately funded 
cooperative complex in the city of New York.
  The Fordham Hill Owners Corporation is a diverse community of people 
from all backgrounds and professions who take pride in the community 
and play an active role in preserving the quality of life at the co-op. 
As a result of the direct involvement of co-op members, the community 
is thriving and continues to add splendor to the Bronx.
  I ask my colleagues to join me today in honoring the Fordham Hill 
Owners Corporation for maintaining a well-run corporation with a high 
quality of life for residents for more than twenty years.

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