Grass-Roots Groups Strive to Preserve Gains in Neighborhoods in Transition

Efforts by nonprofit groups to maintain economic progress in urban neighborhoods despite a wave of foreclosures and job losses are spotlighted in a report by The Wall Street Journal.

Organizations such as the Ogontz Avenue Revitalization Corporation, in Philadelphia, and Boston Community Capital offer refinancing or purchase of homes in working-class and low-income areas to prevent them from being foreclosed.

“The goal here is trying to stabilize neighborhoods by trying to keep homes occupied and productive,” said Elyse Cherry, chief executive of the Boston group.