OMAHA, Neb., Sept. 21, 2020 (GLOBE NEWSWIRE) — Homeless veterans have a place to call home at the new Victory II Apartments in downtown Omaha at 819 Dorcas Street. Burlington Capital renovated a former college building into a 60-unit housing community for veterans. Veterans helped cut the Grand Opening ribbon at a recent Grand Opening celebration that included General (Retired) John F. Kelly as a keynote speaker.
“Nationwide more than 40,000 veterans are homeless. At Burlington Capital, we want to make sure veterans receive the housing and services they deserve,” said Lisa Y. Roskens, Chief Executive Officer of Burlington Capital. “Our apartments are ‘permanent, supportive housing,’ which means that the veterans are part of a community, and that they receive needed services for health and wellness in addition to job-readiness training skills.”
The U.S. Department of Housing and Urban Development (HUD) estimates 1.4 million other veterans are at risk of homelessness due to poverty, lack of support networks and dismal living conditions in overcrowded or substandard housing.
Victory II is the third property Burlington Capital has created for veterans who are at or below 50% of the Area Median Income. In August 2013, Burlington renovated a portion of a former hospital in Omaha and constructed 90 project-based HUD Veterans Affairs Supportive Housing (HUD-VASH) units at 825 Dorcas Street called Victory Apartments-Omaha (Victory I).
Burlington also constructed the 70-unit Victory Park Apartments for veterans on the Department of Veteran Affairs campus in Lincoln, Neb. That project is a 2020 recipient of the Charles L. Edson Tax Credit Excellence Award in the Veterans category, recognizing affordable housing developments and organizations that have demonstrated especially impactful use of the Low-Income Housing Tax Credit (Housing Credit). The award honors Housing Credit developments that are strengthening communities, improving residents’ opportunity and boosting economies in urban, suburban and rural areas across the country.
The 60 units at Victory II include studio and one-bedroom apartments, and are supported by HUD-VASH housing vouchers. The residents enjoy amenities such as a community gathering space, laundry facilities, gymnasium and fitness center, restored grounds and landscaping. For these projects, Burlington partners with the U.S. Department of Veterans Affairs (VA), HUD and local housing authorities.
About Burlington Capital
Founded in 1984 by Michael B. Yanney, Burlington Capital (www.burlingtoncapital.com) is an Omaha-based investment firm successfully managed by an entrepreneurial team led by Chairman and CEO Lisa Y. Roskens. Burlington Capital creates and pursues innovative business ventures through its experience, knowledge and relationships in the areas of multifamily real estate, international agribusiness and financial services. Built on a Tradition of Trust, the company’s vision is to seek opportunities with an entrepreneurial spirit.
Media Contact: Joan Lukas; jlukas@lukaspartners.com
A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/446b1fe4-e8bf-4ca7-b55d-6bb48a6dd40a