KITCHENER -- The Region of Waterloo has received $8.2 million from the federal government to invest in affordable housing.

Ottawa handed out a combined $500 million in federal funding to municipalities across the country.

Regional Chair Karen Redman said the allocation was based on areas in highest need.

"The good news is Waterloo Region got just over $8 million to provide affordable housing," Redman said. "But it's also a sobering message that we're one of 15 big cities across Canada that are in such need of social housing that we were able to get this funding."

Toronto will get the largest share of the money with about $203 million.

Another $500 million will be up for grabs for projects that are completed within a year of federal officials giving a green light for funding.

The region will meet with municipalities next month to discuss plans for the funds.