Funding has been announced for a dozen affordable housing projects to be built in the City of Calgary.

Details of the agreement, that includes $28.4 million in funding from all levels of government, was released on Wednesday.

Jean-Yves Duclos, Canada's Minister of Families, Children and Social Development, and Alberta's Minister of Seniors and Housing Josephine Pon say the investment, made available through the National Housing Co-Investment Fund (NHCF), is vital for those who need safe, affordable places to live.

"Investing in affordable housing is vital to helping more low-income Albertans get on the path to financial stability," said Pon in a release. "We are proud to partner across all levels of government to ensure affordable housing is available for the Albertans who need it."

The money will go towards the construction of 665 new affordable housing units, 140 of which will be fully accessible for persons with physical disabilities.

A total of 372 homes will be available with affordable rents that are lower than 30 per cent of the city's median household income.

The Government of Canada, through the NHCF, aims to build up to 60,000 new affordable homes and repair up to 240,000 existing affordable and community homes over the next 10 years.

The City of Calgary has a wait list of over 4,000 people for affordable housing units.