Why Is This US City Putting 96-Room Motel Up For Sale At Just About Rs 875? Know Details

A 96-room motel is up to be bought for just $10 (approx Rs 875), however, the owner may have to make some changes in the property.

The new owner will be required to renovate the property and maintain it as an income-restricted housing facility for the next 99 years

Source : Pexels

In a deal so unbelieve, a motel with 96 rooms in the state of Denver in the United States is up for sale for approximately Rs 875, a price that many travellers pay for a night in a motel. However, this deal comes with a catch, whoever buys the property will have to transform it into a “supportive house” for the homeless.

According to The Denver Post, the former city-owned motel, Stay Inn, has been empty for 18 months. In May 2021, then-Mayor Michael Hancock and Congresswoman Diana DeGette held a press conference at the motel to announce the city’s plan to purchase it. However, the city didn't take ownership until August 2023, a delay of 27 months. Denver paid $9 million for the 96-room property.

The new owner will be required to renovate the property and maintain it as an income-restricted housing facility for the next 99 years, effectively dedicating the land to assisting those in need until at least 2125.

It received upgraded kitchenettes and a new sprinkler system from the previous owner but “structural repairs” to walkways, railings and electrical systems need to be done, The Denver Post reports.

“We are hopeful that the procurement will result in a path forward for delivering supportive housing at the site," Denver Department of Housing Stability spokesperson Derek Woodbury wrote in an email to Fox 31 Denver.

Woodbury added, “We are hopeful to bring such an agreement to Council later this year."

Although the building remains vacant, the property is currently being utilised to provide housing for homeless individuals in several shed-like structures set up in the parking lot.

Denver city officials are aiming to fast-track the redevelopment process in response to the city’s homelessness crisis. As per The Indian Express, the number of homeless individuals in the metro area increased by 10 percent between 2023 and 2024, with nearly 10,000 people now lacking permanent shelter.