It has been two years since Denver purchased the former Stay Inn along Peoria Street for $9 million with the intention of converting it into supportive housing for the homeless. Despite the purchase, the motel remains boarded up and fenced off, with no residents moved in yet.
Julia Marvin, spokeswoman for Denverâs Department of Housing Stability, stated that negotiations are ongoing with a potential development partner who may buy the property for $10. Final approval from City Council will be required before the property transfer is complete.
The building has been sitting unused since the purchase in August 2023, despite previous renovations made by the previous owner. City officials have cited the need for additional renovations, including structural repairs and electrical system upgrades, before the building can be occupied.
Originally, Denver planned to handle the renovations itself, but later decided to sell the property with a covenant requiring it to operate as income-restricted housing for 99 years. The building also needs to be rezoned to house people, with rezoning hearings scheduled for 2024 but later canceled.
Currently, the property is home to a network of shed-like structures where people live, as part of the city’s efforts to establish pallet shelter âmicrocommunitiesâ for the homeless.
Despite delays and setbacks, Denver remains committed to providing supportive housing for those in need, with ongoing efforts to finalize the property transfer and bring the project to fruition.
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