A 96-room motel, formerly known as Stay Inn, is up for sale at an unbelievably low price—just $10. While the deal may seem too good to be true, there is a significant catch: the buyer must commit to a major renovation project and maintain the property as an income-restricted housing facility for the next 99 years.
In an era where skyrocketing property prices dominate the housing market, a bizarre real estate listing in Denver, Colorado, has caught the attention of many.
A Once-in-a-Lifetime Deal with a Catch
The property was originally purchased by the Mile High City government in 2023 for approximately $9 million. The intent behind the purchase was to convert the building into long-term supportive housing for the homeless.
However, after only minor repairs—including the installation of kitchenettes and a new sprinkler system—significant structural issues remain unaddressed. Now, the city is offering the motel at a nominal cost in hopes of attracting an investor willing to take on the extensive renovation and long-term commitment.
For potential buyers, this opportunity presents both a challenge and a responsibility. The motel is not a traditional investment property, as its use will be strictly regulated.
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The new owner must comply with the city’s mandate to operate it as an affordable housing facility, ensuring that vulnerable populations have a place to stay. This means that while the initial purchase price is incredibly low, the financial and logistical burden of transforming the motel into a livable space is substantial.
The Growing Homelessness Crisis in Denver
The decision to offer the Stay Inn at such a low price is deeply tied to the ongoing homelessness crisis in Denver. According to the Metro Denver Homelessness Initiative, the number of homeless individuals in the city has increased by 10% from 2023 to 2024, with nearly 10,000 people currently without a permanent residence.
The city’s efforts to provide emergency shelters and temporary housing solutions have not been enough to address the growing demand.
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The Stay Inn property is currently being used to house homeless individuals in temporary shed-like structures placed in the parking lot. While these makeshift shelters provide some relief, they are far from a sustainable solution.
The hope is that by transferring ownership of the motel to an investor or organization committed to affordable housing, the city can create a long-term solution for those in need.
Denver’s housing crisis is fueled by multiple factors, including rising rent prices, a lack of affordable housing options, and economic instability.
Many working-class families and individuals find themselves unable to keep up with the cost of living, leading to an increased demand for low-cost housing. The Stay Inn project is part of a broader initiative aimed at expanding supportive housing options and helping those on the brink of homelessness regain stability.
City officials believe that converting the motel into permanent supportive housing will provide crucial services to individuals who need them most.
Supportive housing goes beyond just providing a roof over someone’s head—it often includes access to mental health care, job training, and other social services designed to help residents transition back into stable and independent living.
Challenges and Opportunities for Potential Buyers
While the opportunity to purchase a 96-room motel for just $10 is undoubtedly enticing, potential buyers must be prepared for the challenges ahead.
The property still requires major repairs, including work on its walkways, railings, and electrical systems. The cost of these renovations could be substantial, and the strict zoning restrictions mean that the buyer will not be able to convert the property into a commercial hotel or luxury apartments.
However, for investors and nonprofit organizations committed to social impact, this deal presents a unique opportunity. By transforming the Stay Inn into a high-quality affordable housing facility, the new owner can contribute to solving Denver’s homelessness crisis while benefiting from long-term government support and potential tax incentives.
Moreover, this project aligns with the broader national push for more affordable housing solutions in the United States. Cities across the country are grappling with similar issues, and Denver’s approach could serve as a model for other municipalities looking to repurpose existing properties for social good.
The sale of Stay Inn highlights the growing recognition that addressing homelessness requires innovative and collaborative solutions.
Despite the challenges, the potential for long-term positive impact is significant. If the right buyer steps forward, the Stay Inn could become a beacon of hope for Denver’s homeless population, offering not just shelter but a path toward a brighter future.
The city’s officials remain optimistic that they will find a suitable buyer who is willing to take on this ambitious project and make a meaningful difference in the community.
let’s enjoy few years on earth with peace and happiness….✍🏼🙏