I think it likes a sunny fairly dry spot. It's a northern african/meditteranean native so that should tell you something.... Put it in the sunniest place you've got and make sure its in a well draining spot (most fuzzy silver foliage (in poorly drained soil) has a tendency to rot.... Also its not tender but not super hardy. Put it in a protected spot (like on the south side of house with a fence as a wind breaker or taller plants as a wind breaker or near reflective and warm paths/rocks) (to make it warmer). Also most fuzzy foliage prefers to be bottom watered (but you can water it from the top)..... And its a biennial.... some sources say cutting down blooms/seeds makes it a perennial.... but if it blooms and goes to seed it will die. Fairly easy to grow again (I hear) from seed though. :)

Here is a link that might be useful: annie's info

I think it's hardy. It's overwintered here for years. And I'm not positive it's biennial, either. Here, after it flowers, I cut it back, and the same plant has persisted for several years. In a different garden, where I allow it to self seed, the mother plant does die out after seeding.