In what sounds like a too-good-to-be-true real estate offer, the city of Denver is practically giving away an entire motel for just $10—but there’s a major catch. Any buyer who takes the deal must agree to renovate the entire property and turn it into government-mandated “supportive housing” for the homeless for the next 99 years.
That’s right—whoever buys the property must commit to running it as an income-restricted housing facility until the year 2125, making this the kind of “deal” that’s anything but a win for free-market investors.
The Stay Inn, a four-story, 96-unit motel in Denver, was purchased by the city for a whopping $9 million in 2023, yet it has remained largely untouched since then. Aside from some “minor repairs,” local officials have done little with the property, letting it sit unused while the city’s homeless crisis spirals out of control. Now, desperate to offload the project onto someone else, they’re offering it for pennies—but only if the buyer agrees to shoulder the massive burden of costly renovations and decades of government oversight.
The building, a fenced-off tan and gray structure, reportedly has upgraded kitchenettes and a new sprinkler system from previous ownership, but that’s where the good news ends. It still requires major structural repairs, including work on walkways, railings, and electrical systems. And, of course, the property will be sold as-is, meaning the lucky buyer gets to handle all of those issues on their own dime.
Denver officials are scrambling to find a buyer willing to take on the challenge, hoping to have a deal finalized by the end of the year. But even if someone bites, the city still has to approve the sale through the Democrat-controlled Denver City Council, which means this “deal” could come with even more strings attached.
Meanwhile, Denver’s homeless population is exploding. According to the Metro Denver Homelessness Initiative, the number of people living on the streets jumped 10% from 2023 to 2024, reaching nearly 10,000. The Stay Inn itself is already being used as a de facto homeless encampment, with dozens of shed-like structures in the parking lot providing temporary shelter.
Even if a buyer is willing to invest in this project, they’ll be trapped in nearly a century of government regulations, forced to operate under strict income-restricted housing rules. That means no chance of turning the property into a profitable business, no ability to adapt to market demands, and no way out of this government-imposed social experiment until the year 2125.
Denver’s leadership has shown time and time again that it has no real solutions for homelessness, instead throwing taxpayer dollars at failing projects and shifting responsibility onto private citizens. With this latest move, they’re trying to offload their own failure onto a naive buyer—one who will be locked into a government-controlled property for generations to come.
A true real estate bargain? More like a bureaucratic nightmare.
