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Tenants report worsening repairs after Pinnacle default on two Olinville Avenue buildings
Summary
Committee heard that owner Pinnacle defaulted on a $33,000,000 mortgage for adjacent Olinville Ave. buildings; tenants report declining maintenance, scaffolding left in place and long vacancies. Community groups plan to document complaints and seek a meeting with the owner.
Speaker 4 told the Housing and Land Use Committee that owner Pinnacle defaulted on a $33,000,000 mortgage covering two adjoining properties at 2280 and 2300 Olinville Avenue and that tenants have reported progressive decline in maintenance. "Maintenance is just going down and down," Speaker 4 said, and tenants have seen scaffolding remain without repairs while apartments sit vacant for up to a year.
Speaker…
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