55+ Community! 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. Downtown Terrace also has five retail rental spaces conveniently located in our apartment complex! This includes a doctor's office, optometrist, and salon. We also have two retail spaces open for rent, please call for more details.