The Denver City Council has the potential to acquire the DoubleTree Hotel located at 4040 Quebec St. in order to address homelessness within the city. The proposed plan would involve leasing the property for a maximum of 15 months with an initial monthly payment of $83,333.33 and a total contract amount of $1,250,000.
If approved by council members at an upcoming meeting, Denver will have the option to purchase the hotel for $43 million during or after this lease period. This includes a base price of $39 million plus additional expenses.
In addition to this potential acquisition, earlier this year saw another hotel being converted into permanent supportive housing by Denver Housing Authority – Best Western Central Park on Quebec St., which is currently being used as individual shelter units. Furthermore, Stay Inn on E. 38th Ave was also acquired by DHA for supportive housing purposes.
This development presents an opportunity for addressing homelessness in Denver through strategic investments and partnerships between government agencies and private entities.
