Downtown Terrace is an award-winning residential development that has transformed a central block in downtown Petersburg, Indiana. As a national finalist in the 2015 Affordable Housing Finance (AHF) Reader’s Choice Awards for Rural Developments and the winner of the 2015 Lt. Governor’s Award for Excellence in Affordable Housing, the community is recognized for its high standard of design and community impact. The property is comprised of 42 affordable apartment homes tailored for seniors aged 55 and older, offering a mix of one- and two-bedroom layouts that emphasize both comfort and energy efficiency.
The development is a true mixed-use anchor for the area, featuring over 11,000 square feet of ground-floor retail and office space. This space serves the broader community by hosting essential services, including a doctor’s office, an urgent care facility, and a salon. The exterior of the building is complemented by attractive landscaping and dedicated outdoor green space, creating an inviting environment for residents to enjoy. On-site parking and secure entrances further enhance the convenience and safety of the property.
Inside the homes, residents benefit from modern features such as Energy Star appliances, front-load washers and dryers, and private patios or porches. The building also offers a variety of community-focused amenities, including a resident community room, a gazebo, and elevator access. Its prime location ensures that the best of Petersburg—including local restaurants, grocery stores, shopping, and parks—is all within close proximity and easy walking distance, allowing for a vibrant and connected lifestyle.
