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Tenant leader details Pinnacle bankruptcy transition; HPD fast-tracking inspections, city schedules town hall
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Summary
Diana Finch told the Housing and Land Use Committee that dozens of Pinnacle-owned buildings were affected by bankruptcy, new owner Summit pledged roughly $33 million for repairs, HPD has prioritized inspections for the bankruptcy properties, and the mayor's office will hold a tenant town hall April 22.
At the April 16 meeting, resident Diana Finch gave a detailed account of the Pinnacle portfolio and the recent bankruptcy process. Finch said Pinnacle placed 93 buildings into a bankruptcy auction and that the city intervened to secure commitments from the buyer, Summit, to fund repairs. Finch described a promised funding pool of "millions of dollars" and later referenced $33,000,000 in connection with inspection-prioritized repairs tied to the bankruptcy closing.
Finch said some Pinnacle-owned properties not included in the bankruptcy have similar maintenance issues and that Summit has hired a consulting firm, Strada, to manage the transition while new management companies are installed. She said some historical Pinnacle records appear missing, complicating rent and repair records, and that HPD worked with a group called Just Fix It to fast-track inspections for buildings covered by the bankruptcy agreement.
She noted broader reform efforts, including mayoral "rental ripoff" hearings and an April 22 tenant town hall where the mayor's office will present early findings and next steps from those hearings. Finch urged tenants and tenant associations to organize; she said tenant unions and HPD engagements may speed inspections and repairs during the management transition to Summit.
Committee members asked to circulate details of the April 22 town hall and agreed to seek HPD representation at a future meeting. No formal committee action was recorded on landlord enforcement or financing during the April 16 session.
