In the search for new, cost-effective approaches for improving the life chances of at-risk youth, older adults provide an intriguing, potential source of developmental relationships for these youngsters. This study attempts to gain a fuller understanding of what happens when elders and at-risk youth are brought together. To develop this understanding, the staff visited five exemplary intergenerational programs to conduct interviews with the staff, elders, and youth. Other sources for this report include conferences, extensive interviews with experts and academics, and a review of the literature. The study's findings suggest that there are many possibilities inherent in the notion of intergenerational relationships for at-risk youth. These include providing a new role for older people, the possibilities of alternative directions for social intervention, and a distinct paradigm for youth development. (Author abstract modified)