Veterans Come Home to Victory II Apartments
Burlington Capital Opens Door to Affordable, Supportive Veteran Housing
General (Retired) John F. Kelly Keynote Speaker at Sept. 18 Ribbon Cutting
Omaha, Neb. Sept. 18, 2020 — Homeless veterans now have a place to call home at the brand new Victory II Apartments in downtown Omaha. Burlington Capital renovated a former Grace University building into a 60-unit housing community for veterans. To celebrate, General (Retired) John F. Kelly was the keynote speaker at the Grand Opening & Ribbon Cutting Ceremony for Victory II Apartments that was held on Friday, September 18 at 819 Dorcas Street.
“It is an honor to have General Kelly help us recognize and celebrate our veteran residents. Being the 28th White House Chief of Staff and 5th Secretary of Homeland Security, he understands first-hand that 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.”
Victory II is the third property Burlington Capital has created to provide affordable, supportive housing for veterans. In addition to the more than 40,000 homeless veterans, 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.
In August 2013, Burlington renovated a portion of the former St. Joseph’s Hospital and constructed 90 project-based HUD Veterans Affairs Supportive Housing (HUD-VASH) units at 825 Dorcas Street called Victory Apartments-Omaha (Victory I). The Victory I apartment building is adjacent to the new Victory II apartments, creating an urban corridor of new modern housing and amenities specifically for veterans who are at or below 50% of the Area Median Income. In addition, Burlington Capital constructed the 70-unit Victory Park Apartments for veterans on the Department of Veteran Affairs campus in Lincoln, Neb. For these projects, Burlington partners with the U.S. Department of Veterans Affairs (VA), HUD and local housing authorities.
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. The development also consists of adjacent commercial space which is being leased by the Department of Veteran Affairs (VA) that offers on-site services to the residents and their families, including a food pantry.
George Achola, Vice President of Burlington Capital Real Estate, added, “The veterans who move in will be coming from homeless shelters, transitional housing or from overcrowded apartments they share with others. They have served our country all over the world, including Vietnam, Iraq and Afghanistan. This type of supportive housing is needed given the fact that the first Omaha Victory apartments filled quickly and there was a waiting list of close to 150 veterans eager to be part of the living community we provide at the Victory II Apartments.”
Charles L. Edson Tax Credit Excellence Award
The Burlington Capital Victory Park Apartments for veterans in Lincoln, Neb., 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). Announced in August from the nation’s capital, the awards honor Housing Credit developments that are strengthening communities, improving residents’ opportunity and boosting economies in urban, suburban and rural areas across the country. The awards come at a time when the COVID-19 pandemic and its economic impact have intensified the need for affordable housing, compounding the challenge facing at-risk families and individuals already struggling to pay rent. Through public-private partnerships, the Housing Credit offers a proven track record of financing safe, decent affordable homes in communities where they are needed most.
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.
Recent News & Featured Projects
Investment Highlights Ideal Location Located in Augusta’s sought-after sub-market of the “Hill” Strong historical occupancy and excellent visibility Greater Augusta features one…
Burlington Capital recently held a Grand Ribbon Cutting Ceremony in celebration of the opening of our third Veteran Housing Community, Victory II…