Denver Offers $9M Motel for $10 with Condition to Aid Homeless

The city seeks a buyer to renovate a vacant 96-room motel into supportive housing for the homeless, with a 99-year income-restricted covenant.

The former Stay Inn motel in Denver, purchased by the city in 2023 for $9 million, is being sold for just $10, but with a requirement to convert it into supportive housing for the homeless.
The buyer must renovate the 96-room, four-story building, which requires significant structural repairs, including walkways, railings, and electrical systems.
The sale includes a 99-year covenant mandating the property operate as income-restricted housing for individuals earning up to 30% of the area's median income.
Denver's Department of Housing Stability is reviewing potential development partners, with final approval from the City Council expected later this year.
The motel's parking lot currently hosts temporary shelter structures for homeless individuals, a setup that may remain for at least four more years.