IHCDA Names Downtown Terrace & Historic Greensburg Square Top Developments

Downtown Terrace
Historic Greensburg Square

Two new Flaherty & Collins Properties developments were given honor as recipients of the 2015 Lt. Governor’s Award for Excellence in Affordable Housing.

Downtown Terrace and Historic Greensburg Square were named the top Rural and Senior multifamily developments projects by Lt. Governor Sue Ellspermann at the annual Indiana Housing & Community Development Authority (IHCDA) Community Economic Development Conference. The conference is organized by the Indiana Housing and Community Development Authority (IHCDA) and the Indiana Association for Community Economic Development (IACED).

“Both our teams involved with the development and management of Downtown Terrace and Historic Greensburg are honored to be recognized as innovative communities that serves the best interests of both residents and the towns of Petersburg and Greensburg,” said Duane Miller, Flaherty & Collins Vice President of Property & Asset Management. “We want to thank the Lt. Governor and the IHCDA for these awards.”

RomWeber Flats, another Flaherty & Collins Properties managed site, won in 2014 for best Rural development also.


Downtown Terrace, a 2015 Affordable Housing Finance (AHF) Reader’s Choice Awards national finalist in the category of Rural Developments, is located in downtown Petersburg, Indiana, is comprised of 40 affordable apartment homes. All of the services and amenities of Petersburg are within close proximity to Downtown Terrace including restaurants, grocery stores, shopping, parks and more. There is on-site parking, outdoor green space and attractive landscaping that help transform the entire block.


Historic Greensburg Square is an adaptive reuse of four vacant historic buildings for uses that benefit the community by providing community services and increasing downtown housing opportunities. Apartment units are designed to hit National Green Building Standard Gold level. Energy use is expected to be 20 percent less than conventional construction.

The full news release by the IHCDA on the award winners can be found HERE.