US Hotel Worth Rs 75 Crore Listed For Just Rs 875? Bizarre Deal Goes Viral

A hotel in Denver, Colorado, valued at over $9 million (Rs 75 crore), is being sold for just $10 (Rs 875). But the only condition behind this extremely low price is that the buyer must agree to renovate the entire building and convert it into a residence for homeless people, according to FOX31.

In 2023, the former Stay Inn motel was bought by the city of Denver for $9 million. Though the city made some minor repairs, the building remains largely untouched. It aims to provide relief to the homelessness problem of the city, forcing the new owner to make over the motel as "supportive housing."

The one-of-a-kind deal has grabbed headlines all around the world, drawing curious minds wanting to know who will assume the challenge to rehabilitate the motel and lend it to those who need this much-needed assistance to the community.

Derek Woodbury, a spokesperson for the Denver Department of Housing Stability, said procurement is already in motion to select a development partner, and applicant review is currently underway. Then, that proposed developer agreement would go before the city council to be approved.

"We are hopeful that the procurement will result in a path forward for delivering supportive housing at the site," Woodbury said in an email to FOX31.

According to the city's request for proposals, the building will be sold as is. It also states that it would be sold with a covenant requiring it to operate as income-restricted housing for 99 years.

"Any resulting proposed purchase and sale agreement would go to Denver City Council for approval," Woodbury wrote. "We are hopeful to bring such an agreement to Council later this year."