Defence Minister Julian Fantino made the announcement today at 4 Wing Cold Lake.
He says $14 million dollars will do towards building a new health services centre that will have medical, dental and physiotherapy.
Another $15.8 million will also go to upgrading the existing airfield and resurfacing the runways.
The 50-year-old housing units will also get $16 million for repairs to the exteriors and upgrading materials such as roofing materials with longer lasting materials.
The base in Cold Lake currently has six jets deployed to Syria as part of an operation fighting ISIS.
The projects are to be completed in 2017.