This paper investigates how every day interactions within senior centers may be conducive to the generation of social capital that seniors can tap into, and how the creation of social capital is shaped by the social positions and physical location of the individuals involved. Based on 22 in-depth interviews and 15 months of field observations at two centers in Phoenix, one serving Asians and the other Latinos, we find that the presence of seniors in socially advantageous positions facilitates the flow of beneficial resources for other seniors. Seeming ethnic differences in the generation of social capital actually stem from the interaction of other forms of capital and the structure of opportunities for different groups, reflecting broader patterns in the reproduction of inequality. These observations may be policy-relevant with regard to the allocation of public resources in the face of fiscal crises.