The People’s Homesite and Housing Corporation played a major role in the development of Quezon City after the city's inauguration as the nation's Capital on October 22, 1949. It was responsible for the development of the 1,572-hectare land purchased as early as 1938 belonging to the Diliman Estate of the Tuason family. Construction of the Roxas Homesite along Diliman creek commenced the series of in-city housing projects namely: Quirino District ; Magsaysay District, with the very first “Newsmen row” in the country; Bagong Pag-asa, which was the first informal settlers’ resettlement area; Veterans Village ; and Toro Hills Homesite. From the original land appropriated to Project 7, PHHC decided to split the area into North Bago Bantay and South Bago Bantay. The northern portion is now Barangay Ramon Magsaysay while the southern part officially becomes Veterans Village after a Quezon City resolution was passed in 1956.
Development of North Edsa corridor
After the completion of SM City North EDSA as the country's first SM Supermall, the area has developed into a commercial strip of office buildings, car dealerships, a community-based mall, an LRTstation and transport hub for commuters going to and from Northern Quezon City, CaMaNava and Bulacan areas. Notable landmarks include the , WalterMart North Edsa mall and corporate offices, Cityland's North Residences Condominium, Panorama Development Corporation's Panorama Technocenter Building, Robinsons Land Corporation-Roxaco Vanguard Hotel Corporation' Go Hotels North Edsa, Eurotel North Edsa, Muñoz Market, Congressional Arcade, North Metro Hotel Apartelle, Chut's Badminton and Sports Center and service stations of Shell, UniOil, Phoenix Petroleum and PTT. Some private schools have been established in the vicinity such as St. Augustine School of Nursing, Our Lady of Montichiari School, Castle Ville Academy, Hope Christian Academy and the government-run Esteban Abada Elementary School. A Maynilad joint sewage and septage treatment plant has been in operation at the corner of Road A and Anahaw Extension since October 18, 2013.
The new Barangay and SK Councils were elected on May 14, 2018.
Demographics
As of the 2015 census of the National Statistics Office, the population of Barangay Veterans Village is 11,520.
Facilities
Veterans Village maintains a Quezon City public library branch, Social and Hygiene clinic and recreational facilities such as a barangay sports center and covered basketball court located a few blocks away from the barangay hall.
Barangay Captain De Jesus was sued for gross neglect of duty complaint by MMDA General Manager Thomas Orbos at the Office of the Ombudsman on April 10, 2017. The barangay chief was found careless and indifferent in preventing the return of road obstructions after the MMDA helped the barangay in the clearing operations of illegally parked and junk vehicles in sidewalks 2 months prior.