The Home Depot Foundation is investing $10 million to help veterans age in their current residences and avoid homelessness.
The funding, in honor of both Veterans Day and the annual Operation Surprise initiative, will address the urgent need for accessible and stable housing for aging veterans, a population that is expected to surge in the coming decades.
According to recent projections from the Department of Veterans Affairs, the number of veterans over the age of 85 who require care will increase by a staggering 535 percent over the next 20 years.
Research also indicates that homelessness among individuals aged 65 and older will reach its peak by 2030, with veterans being disproportionately affected compared to the general population. While veteran homelessness has decreased by 55 percent over the past decade, it began to rise again in 2023.
“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 funding will facilitate the creation of affordable housing, with over 230 new or refurbished rental units constructed by organizations including U.S.VETS and the Coalition for Responsible Community Development.
In addition, more than 125 urgent home repairs for low-income veteran families will be conducted by organizations such as Operation Homefront. Rental and/or mortgage assistance provided by the Housing Assistance Council and similar organizations will be provided to over 270 veterans.
Four hundred home adaptations and critical home repairs will also be completed by Semper Fi & America's Fund, and seven new fully custom smart homes will be built by Gary Sinise Foundation for veterans with significant service-related disabilities.
“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,” said Stephen Peck, CEO of U.S.VETS. “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.”
In celebration of its annual Operation Surprise initiative, The Home Depot 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. Beyond physical improvements, Team Depot will also deliver special moments of appreciation to honor those who have served.
On Veterans Day last year, The Home Depot Foundation announced it had surpassed $500 million invested in veteran causes since 2011, meeting its previous financial commitment two years early.
To learn more about The Home Depot’s commitment to the veteran and military communities, visit here.
Reach Julia LeDoux at Julia@connectingvets.com.
