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Colorado motel being sold for $10 — but there’s a catch

This is a suite transaction for the right person.

The whole Motel in Denver is sold much less than just overnight for average travelers to sleep in the room.

But there is a catch.

Currently, the parking lot is used to accommodate the homeless with a hut -like structure.
KDVR

The price of former Stay Inn in Colorado is only 10 dollars, but buyers need to agree to renovate the entire building and convert to a “supported house” for those who are experiencing homeless. Fox 31 Denver.

Mile High City purchased a building for about $ 9 million in the summer of 2023, but has not made a major renovation other than a “minor repair” to protect real estate.

New owners need to accept additional luggage before checking in to a new project because the authorities sell buildings.

The sunburn and gray structure surrounded by fences has a total of 96 units.

I received a simple kitchen upgraded from the previous owner and a new sprinkler system, but “structural repair” requires a passage, handrails and electrical systems. Denver Post is reporting.

The city official wants to start a contract with the buyer at the end of the year and start a change.

Former Stay Inn is located in Denver, Colorado. KDVR
The buyer needs to convert the building into a “support house” for those who need evacuation centers. KDVR
The new owner must maintain this building as a 99 -year -old residential facility. KDVR

Number of people who have been homeless The Denver Metro area has increased by 10 % From 2023 to 2024, nearly 10,000 souls live without permanent residence. Report by Metro Denbar Home Wrest Inisiative.

According to what is reported, negotiations for potential development partners in multi -level buildings are on progress, but have not been selected yet.

According to a comment from Delek Wood Berry's Denver Denver, Denber's stable spokesman, the Denver City Council must approve the contract before the project moves forward.

“I hope the way to distribute support houses will be on the site by procurement,” Woodbury writes. Email to Fox 31 Denver.

Transactions are not temporary.

A lucky $ 10 motivated person needs to agree to the unique rules for a very extended stay.

According to the demands of the city proposed by the Fox 31 Denver, the new owner needs to maintain this property as a 99 -year -old residential facility.

This means that the owner must promise to use land to help the poor at least 2125.

“We hope to bring such agreements to the council in the latter half of this year,” said Wood Berry.

The building is empty, but the facilities are currently used to accommodate dozens of homeless people. Structure like a hut in the parking lot.

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