Urban Edge Announces New Leadership Structure
Jan 30, 2008

On January 28, 2008, Urban Edge’s Board of Directors approved a new executive leadership model for Urban Edge that creates two new positions: Chrystal Kornegay (currently Deputy Director) has been asked to serve in the position of CEO, and Mossik Hacobian (currently Executive Director) has been asked to serve in the position of President. This new model also reconfirms the commitment of the Board of Directors to the future growth and productivity of Urban Edge. The two new positions are based on an organizational leadership restructuring plan first discussed by the Board of Directors in April 2007. As President, Mossik will be responsible for resource development, public policy, and advocacy and Chrystal will oversee all operations for the organization; both positions report directly to the Board of Directors.

Eddie Jenkins, Chair of the Board of Directors, commented: “This is an exciting and challenging time for Urban Edge, and I know I speak for all members of the Board of Directors when I express our commitment to this innovative organizational model of shared leadership, and congratulate Chrystal and Mossik for their continuing dedication to Urban Edge. The combined leadership of the Board, Chrystal, and Mossik provides the talent, experience, and inspiration to move Urban Edge forward and to support its projects and programs for members of this community.”

Urban Edge is a non-profit community development corporation (CDC) founded in 1974 to help develop and sustain stable, healthy and diverse communities. Urban Edge has worked to stabilize neighborhoods and prevent displacement of low-income residents through the development and preservation of 1,360 units of resident-controlled affordable housing. Its property management affiliate manages 1,340 units of rental and cooperative housing. Governed by a 30-member resident Board that includes a strong contingent of tenants of its multi-family housing, Urban Edge is responsible for a real estate portfolio of affordable housing and community and retail facilities with a replacement value of over $200 million.

Fighting Back Against Foreclosure
Jan 03, 2008

With all the negative news about the foreclosure crisis, it's important that the foreclosure prevention programs run by Urban Edge and other dedicated non-profits nationwide are succeeding.

Of the 225 homeowners referred to Urban edge by the City of Boston and by MassHousing's and Neighborworks® America's HOPE LINE since November of 2006, 162 families have been contacted and 150 of them are receiving services.

Of the 38 cases already closed, only 3, or less than 8%, went to foreclosure.  Urban Edge helped 35 area homeowners --over 92% --successfully avoided foreclosure and daved their homes.  Solutions include refinancing; loan modification; a repayment plan; reinstalment, forbearance; and Chapter 13.

The good news is that hard work, creativity and determination stil make a difference. Hats off to foreclosure preventio counselors everywhere.