The Home Depot Foundation is investing $9 million to provide housing solutions for over 3,400 veterans battling homelessness. The funding will support the construction of more than 300 new housing units and the repair of an additional 200 units, according to the foundation.
According to the U.S. Department of Housing and Urban Development, the number of homeless veterans has decreased by 55% over the past decade. However, the number is beginning to rise again, with an average of 35,000 veterans experiencing homelessness on any given night.
The Home Depot Foundation’s grant will play a role in countering the challenge of veteran homelessness by creating new housing units through collaborations with national nonprofit partners, including Volunteers of America, Housing Assistance Council, and Tunnel to Towers.
“We are deeply committed to ensuring that our nation’s heroes have a safe and comfortable place to call home,” Erin Izen, executive director of The Home Depot Foundation, said. “Our investment is not just about building structures; it’s about building hope and providing the security that every veteran deserves.”
In partnership with other nonprofits including Community Solutions, the grants will also facilitate the process of finding and securing existing housing for an additional 3,000 homeless veterans. An integral part of the initiative includes funding for landlord incentive programs, which are crucial in overcoming the barriers faced by at-risk and homeless veterans in finding sustainable housing.
The Home Depot Foundation’s pilot landlord incentive programs with U.S. VETS and Volunteers of America have seen success in Los Angeles, Honolulu, and Chicago over the past year, according to The Home Depot. The Foundation launched the Landlord, Organizations, and Veterans Engagement (LOVE) Fund in Atlanta, a dedicated resource aimed at assisting veterans who are housing insecure or transitioning from homelessness.
Beyond immediate housing solutions, the Foundation’s funding will also support essential research, studies, and training on aging, rural, and low-income and disabled veterans, as well as housing trends and specific housing needs through the Housing Assistance Council.
