The Home Depot Foundation announced it will invest $10 million into projects designed to help veterans age in their current residences and avoid homelessness.
The foundation cited recent projections from the Department of Veterans Affairs (VA) that determined the number of veterans over the age of 85 who require care will increase by a staggering 535% over the next 20 years, along with other data that found veterans are disproportionately affected by homelessness compared to the general population.
The new funding announced today will facilitate the creation of over 230 new or refurbished rental units constructed by organizations including U.S.VETS and Coalition for Responsible Community Development; the coordination of more than 125 home repairs for low-income veteran families by organizations such as Operation Homefront; rental and/or mortgage assistance provided by Housing Assistance Council and similar organizations to over 270 veterans; and 400 home adaptations and critical home repairs to be completed by Semper Fi & America’s Fund, and seven new fully custom smart homes to be built by Gary Sinise Foundation for veterans with significant service-related disabilities.
“As veterans age, small accessibility modifications can mean the difference between remaining in their own homes versus being displaced,” said 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.”
The Home Depot Foundation also announced plans to grow its mission with an updated commitment of $750 million to veteran causes by 2030, with a focus primarily on affordable housing issues impacting an estimated 50,000 veterans.
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