Imagine getting a hotel worth Rs 75 crore for just Rs 875. Sounds too good to be true, right? That's exactly the buzz surrounding a former motel in Denver, Colorado, which has been listed at an unbelievably low price. However, there's a major condition attached to this jaw-dropping deal—whoever buys it must renovate and convert it into long-term supportive housing for homeless residents.

The property under discussion is the old Stay Inn motel, purchased by the City of Denver in 2023 for $9 million (Rs 75 crore) as part of its anti-homelessness efforts. Though there are some small repairs, not much has been done to change the building's overall structure. As a result, the city has decided to seek a development partner to redesign the space as income-restricted housing.

Though the price tag is unbelievably low, the buyer must commit to restoring the property and turning it into a long-term shelter offering essential services like counseling and job training. The deal also comes with a 99-year affordability covenant, ensuring that the property remains dedicated to social housing for nearly a century.

Derek Woodbury, Department of Housing Stability of Denver:“We are hopeful the procurement would provide a way forward for supplying supportive housing at the site.”

The sale, listed in "as is" condition, still requires approval from the Denver City Council. If approved, it will set the stage for a transformative social impact project , attracting interest from investors, philanthropists, and organizations eager to make a difference.

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