{"id":39919,"date":"2025-02-05T23:22:13","date_gmt":"2025-02-06T04:22:13","guid":{"rendered":"https:\/\/worldlatinstar.com\/wls\/?p=39919"},"modified":"2025-02-05T23:22:13","modified_gmt":"2025-02-06T04:22:13","slug":"colorado-motel-being-sold-for-10-but-buyer-is-required-to-renovate-and-convert-building-for-the-homeless","status":"publish","type":"post","link":"http:\/\/worldlatinstar.com\/wls\/colorado-motel-being-sold-for-10-but-buyer-is-required-to-renovate-and-convert-building-for-the-homeless\/","title":{"rendered":"Colorado motel being sold for $10 but buyer is required to renovate and convert building for the homeless"},"content":{"rendered":"<p><iframe width=\"734\" height=\"414\" data-trx-lazyload-src=\"https:\/\/www.youtube.com\/embed\/Q7vS2B1rmRo\" title=\"Denver to sell hotel for $10 \u2014 with conditions\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p>This is a suite deal for the right person.<\/p>\n<p>An entire motel in Denver is being sold for much less than what an average traveler would pay to sleep in a room for just one night.<\/p>\n<p>But there\u2019s a catch.<\/p>\n<p>Colorado\u2019s former Stay Inn is priced at just $10 but the buyer must agree to renovate the entire building and convert it into \u201csupportive housing\u201d for people experiencing homelessness, according to Fox 31 Denver.<\/p>\n<p>The Mile High City bought the building for around $9 million in the summer of 2023 but hasn\u2019t made any major renovations besides \u201cminor repairs\u201d to protect the property.<br \/>\nThe new owner will have to accept some extra baggage before they check in to their new project because officials are selling the building as-is.<\/p>\n<p>The fenced-off tan and grey structure has four levels with a total of 96 units.<\/p>\n<p>It received upgraded kitchenettes and a new sprinkler system from the previous owner but \u201cstructural repairs\u201d to walkways, railings and electrical systems need to be done, the Denver Post reports.<\/p>\n<p>City officials hope to have a deal locked in with a buyer at the end of the year so the transformation can begin.<br \/>\nThe number of people experiencing homelessness in the Denver metro area increased 10% from 2023 to 2024 with nearly 10,000 souls living without a permanent residence, according to a report by Metro Denver Homelessness Initiative.<\/p>\n<p>Negotiations are reportedly underway for a potential development partner for the multi-level building but no firm has been selected just yet.<\/p>\n<p>The Denver City Council must approve any contract before the project moves forward, according to comments made to local media outlets by Denver Department of Housing Stability spokesperson Derek Woodbury.<\/p>\n<p>\u201cWe are hopeful that the procurement will result in a path forward for delivering supportive housing at the site,\u201d Woodbury wrote in an email to Fox 31 Denver.<\/p>\n<p>The deal isn\u2019t going to be a temporary one.<\/p>\n<p>The motivated person with the lucky $10 will have to agree to unique rules for a very extended stay.<\/p>\n<p>According to the city\u2019s request for proposals reviewed by Fox 31 Denver, the new owner is required to keep this property as an income-restricted housing facility for 99 years.<\/p>\n<p>This means the owner must commit to using the land to help the needy until at least 2125.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is a suite deal for the right person. An entire motel in Denver is being sold for much less than what an average traveler would pay to sleep in a room for just one night. But there\u2019s a catch. Colorado\u2019s former Stay Inn is priced at just $10 but the buyer must agree to&hellip;<\/p>\n","protected":false},"author":2,"featured_media":39920,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[63],"tags":[251,330,89],"class_list":["post-39919","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wls-news","tag-251","tag-colorado","tag-news"],"jetpack_featured_media_url":"http:\/\/worldlatinstar.com\/wls\/wp-content\/uploads\/2025\/02\/colorado.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/worldlatinstar.com\/wls\/wp-json\/wp\/v2\/posts\/39919","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/worldlatinstar.com\/wls\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/worldlatinstar.com\/wls\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/worldlatinstar.com\/wls\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/worldlatinstar.com\/wls\/wp-json\/wp\/v2\/comments?post=39919"}],"version-history":[{"count":1,"href":"http:\/\/worldlatinstar.com\/wls\/wp-json\/wp\/v2\/posts\/39919\/revisions"}],"predecessor-version":[{"id":39921,"href":"http:\/\/worldlatinstar.com\/wls\/wp-json\/wp\/v2\/posts\/39919\/revisions\/39921"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/worldlatinstar.com\/wls\/wp-json\/wp\/v2\/media\/39920"}],"wp:attachment":[{"href":"http:\/\/worldlatinstar.com\/wls\/wp-json\/wp\/v2\/media?parent=39919"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/worldlatinstar.com\/wls\/wp-json\/wp\/v2\/categories?post=39919"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/worldlatinstar.com\/wls\/wp-json\/wp\/v2\/tags?post=39919"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}