terrace (n.)

1510s, "gallery, portico, balcony," later "flat, raised place for walking" (1570s), from Middle French terrace (Modern French terasse), from Old French terrasse (12c.) "platform (built on or supported by a mound of earth)," from Vulgar Latin *terracea, fem. of *terraceus "earthen, earthy," from Latin terra "earth, land" (from PIE root *ters- "to dry").

As a natural formation in geology, attested from 1670s. In street names, originally in reference to a row of houses along the top of a slope, but lately applied arbitrarily as a fancy name for an ordinary road. As a verb from 1610s, "to form into a terrace." Related: Terraced.