$9M motel bought by Denver for homeless still empty two years later

Two years after buying a motel along Peoria Street, Denver still has yet to move anyone into it.

Monday marks 24 months to the day since the city paid $9 million for the former Stay Inn at 12033 E. 38th Ave., saying it would be turned into supportive housing for the homeless.

But the four-story motel, which Denver boarded up after buying, remains fenced off.

Julia Marvin, spokeswoman for Denver’s Department of Housing Stability, told BusinessDen last week that “negotiations and due diligence efforts are underway with a potential development partner” that would buy the property from Denver for $10 .

“This is still being finalized, and we anticipate bringing proposed legislative action for an agreement later this year,” Marvin said in an email. “Final approval from City Council will be r