Ald. Leslie Hairston (5), left, and Chicago Department of Housing Asst. Comm. Will Edwards speak during a meeting of the City Council Committee on Housing and Real Estate Tuesday.

A $15 million loan fund pilot to help longtime South Shore condo owners stay in their homes won’t insulate most of the neighborhood from displacement pressure, but it will salve a nagging problem that has been festering for decades, city housing officials and the area’s local alderman said Tuesday.

A vocal group of local organizers is calling for more, saying the fund is well-intentioned but shows misplaced priorities by the city as South Shore faces a crush of real estate interest rippling from the coming Obama Presidential Center.