In a powerful display of support for veterans, The Home Depot Foundation has announced a significant $10 million investment aimed at combating veteran homelessness and enabling veterans to age in their current residences. This timely commitment comes as the nation grapples with the growing challenge of providing accessible and stable housing for an aging veteran population.
According to projections from the Department of Veterans Affairs (VA), the number of veterans over the age of 85 requiring care is expected to skyrocket by a staggering 535% over the next two decades. This demographic shift highlights the urgent need for solutions that empower veterans to maintain their independence and avoid displacement.
Recognizing this critical need, The Home Depot Foundation is channeling its investment into a multi-pronged approach that will directly impact veterans across the country. This funding will be used to:
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Create affordable housing:
Over 230 new or refurbished rental units will be constructed by organizations like U.S.VETS and the Coalition for Responsible Community Development, providing safe and affordable housing options for veterans.*
Fund critical home repairs:
More than 125 urgent home repairs for low-income veteran families will be undertaken by organizations such as Operation Homefront, ensuring safe and habitable living environments.*
Provide financial relief:
Housing Assistance Council and similar organizations will offer rental or mortgage assistance to over 270 veterans, alleviating financial burdens and preventing displacement.*
Enable home adaptations and smart homes:
Semper Fi & America’s Fund will complete 400 home adaptations and critical repairs, while the Gary Sinise Foundation will build seven new fully custom smart homes for veterans with significant service-related disabilities.This comprehensive approach ensures that veterans are not only provided with housing but also receive the necessary support to maintain their independence and dignity as they age.
“As veterans age, small accessibility modifications can mean the difference between remaining in their own homes versus being displaced,” emphasized Erin Izen, executive director of The Home Depot Foundation. “With this new $10 million investment, The Home Depot Foundation is proud to further our support of our nonprofit partners improving veteran housing across the country, helping veterans safely maintain their independence for years to come.”
Stephen Peck, CEO of U.S.VETS, echoed the importance of this initiative, stating, “The generous investment from The Home Depot Foundation is an important step forward in our shared mission to support and uplift our veterans through housing. We are honored to be a partner in this initiative to expand affordable, accessible supportive housing that meets the needs of those who have bravely served our nation.”
This investment is a testament to The Home Depot Foundation’s unwavering commitment to serving veterans. In celebration of its annual Operation Surprise initiative, the Foundation and Team Depot, The Home Depot’s associate volunteer force, will undertake hundreds of service projects nationwide to enhance the safety and accessibility of veterans’ homes. Throughout November, Team Depot will focus on making veteran housing safer, more accessible, and livable for the long run, also delivering special moments of appreciation to honor those who have served.
This $10 million investment is a key component of The Home Depot Foundation’s broader mission to invest $750 million in veteran causes by 2030. This commitment signifies a continued dedication to addressing the evolving needs of veterans, particularly in the area of affordable housing.
The Home Depot, with its tens of thousands of veterans, service members, and military spouses in orange aprons, embodies a culture of gratitude and support for the military community. To learn more about The Home Depot’s commitment to veterans and military communities, visit homedepot.com/military. Follow #OperationSurprise to witness how the Foundation and Team Depot are making homes more welcoming for veterans across the country.
