KarunaNews Story

A former hotel in Denver, Colorado has sat vacant for approximately 18 months after the city first purchased it for $9 million. Now, it’s back on the market for the low price of just $10. The city purchased the property in 2023 and planned to use it as a shelter for people experiencing homelessness. The boarded-up 96-unit hotel has sat untouched, caught up in an environmental review process. So, to get things moving, the price tag has been set at $10. Of course, there are conditions. The building will be sold-as is, meaning the buyer would be responsible for renovating the building and transforming it into “supportive housing” for homeless Denverites. The deal comes with a covenant that requires a 99-year commitment to providing income-restricted housing on the property. The procurement is already in process; the hope is to have a buyer selected this year. “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,” said Amy Beck of homeless advocacy group Together Denver.