Home Depot has pledged to donate $1bn to veteran causes by 2032, which builds on 15 years of donation since 2011.
The home improvement retailer invested over $650m since 2011, which was taken towards developing over 70,000 veteran facilities.
The Foundation aims to collaborate across various nonprofit partners and industry leaders to discuss the casus of veteran housing insecurity.
Home Depot aims to improve access by removing barriers to accommodation access and work on homelessness prevention for veterans.
Erin Izen, executive director of The Home Depot Foundation said: “We believe every veteran deserves a safe place to call home.
“Our $1bn commitment supports the partnerships and solutions needed to help more veterans move from uncertainty to long-term stability.”
According to the retailer, over the collaboration, the Foundation expanded access to supportive housing facilities, including VOA, and completed home repairs and accessibility modifications.
This comes as research revealed that close to 33,000 veterans go through homelessness on any given night.
Darryl Vincent, president and CEO at US Vets said: “Master leasing is an innovative solution that helps veterans overcome one of the biggest obstacles to housing stability: access to affordable homes in highly competitive rental markets.
“The Home Depot Foundation provides the support to test and refine new models like this in cities across the country, so more veterans have the stability they need to rebuild their lives and move forward with confidence.”
Additionally, there will be practical support that is provided, with hundreds of veteran service projects across 50 states and three US territories.
Home Depot also plans to test and scale a new accommodation model to deal with homelessness.
This move reinforces the retailer’s commitment to investing in community projects that benefit the lives of Americans.
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