a row of houses built in a similar style and having common dividing walls (or the street on which they face)
"Grosvenor Terrace"
A flat open area on the topmost floor of a building or apartment
"After dinner, we enjoyed our cocktails on the rooftop terrace overlooking the city skyline."
In plain English: A terrace is an outdoor area with steps built into it, often used as seating on top of a building or garden level.
"We sat on the sunny terrace to enjoy our afternoon tea."
Usage: Use this noun to describe an outdoor, roof-level space attached to a home or apartment for relaxation and dining. When referring to creating such an area in your garden, use the verb form meaning to construct flat steps leading up from lower ground.
To provide something with a terrace.
"The gardeners decided to terrace the steep hillside to create level planting areas."
In plain English: To terrace something means to build flat steps into a hillside so you can plant gardens on them.
"The workers terraced the hillside to create flat gardens for growing vegetables."
A city in British Columbia, Canada
"During our road trip across British Columbia, we made a brief stop at Terrace to get some supplies before heading north."
The word terrace entered English via the French terrasse, which originally meant a raised platform or level ground built on a slope. It ultimately traces its roots to the Latin terra, meaning land.