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The motel will be an income-restricted housing facility for 99 years.
Former Stay Inn motel which is up for sale for Just Rs 875. (Image: Google Maps)
A motel in the United States is up for grabs at a price lower than what a traveller would typically pay for a one night stay. However, there’s a twist – whoever snags this deal must commit to a major renovation project, transforming the property into long-term supportive housing for the homeless.
The former motel, Stay Inn, has 96 rooms and is on the market for as little as Rs 875. Yes, you read that right!
As per a report by the New York Post, the Mile High City bought the building in Denver for around $9 million in the summer of 2023 but only did “minor repairs” to protect the property. They upgraded kitchenettes and installed a new sprinkler system but repairs to walkways, railings and electrical systems need to be done.
The new owner must not only renovate it but also keep it as an income-restricted housing facility for 99 years. This translates to committing the land to help the needy until at least 2125.
“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.”
The property is currently being used to house homeless people in shed-like structures in the parking lot.
