DENVER — A former motel that the City of Denver planned to use to shelter people experiencing homelessness is now on the market for $10.

The city purchased the former Stay Inn, located along Peoria Street just south of Interstate 70, for $9 million 18 months ago. Since then, the property has sat vacant.

“That building has been there for so long,” said Amy Beck, an advocate with Together Denver who has watched the property sit untouched.

In May 2021, then-Mayor Michael Hancock stood in front of the Stay Inn and announced the city’s plan to purchase the hotel and convert it into a shelter for the unhoused.

“This building here behind us represents hope,” Hancock said at the time.

Congresswoman Diana DeGette helped the city secure $2 million in federal funding to purchase the hotel.

• Watch our initial coverage in the video player below

Denver hopes to use DeGette proposed funding to buy hotel to house homeless

The city purchased the 96-unit motel for $9 million in 2023. Eighteen months later — and nearly four years since the original announcement — the hotel remains boarded up.

A spokesperson for Denver’s Department of Housing Stability (HOST) said a “necessary environmental review process which took longer than anticipated” led to the delays.

The City of Denver is putting the hotel back on the market for $10. However, there’s a reason behind the puzzling price tag.

The new owner would be responsible for transforming the building into “supportive housing” for those experiencing homelessness, according to the city.

Beck said she was shocked by the $10 list price but is all for it if it gets people off the street.

“At this point, I’m willing to take anything,” said Beck.

The low price tag is also to offset the expected costs. The selected partner will need to fund all renovations and maintenance, which the city estimates will cost a minimum of $5 million.

Whoever the buyer ends up being, Beck hopes they know what they’re taking on.

“Whoever is managing the property, they need to be trauma-informed. They need to be willing to deal with people that have been through an immense amount of trauma,” Beck said.

The hope is to bring a buyer in front of the Denver City Council later this year. Beck said there’s no time to waste.

“Please, just get it up and running because we have so many families that could fill that building right now that are living on the street, in their cars, and we need that space immediately,” said Beck.