Terrace Park is located on the site where Father Odin of the Congregation of the Mission (Vincentian Fathers) established St. Vincent's Male Academy in 1838, which was followed shortly thereafter by St. Vincent's Seminary.Often affectionately called "The Cape", St. Vincent's remained open as a minor seminary for high school aged boys until 1979.
Joseph Lansmann designed and constructed the original main building (1843) in the Colonial Revival style. A red brick structure with rectangular windows, jack arches and a square bell tower, it still stands. In the 1850s and 1870s, additions were made. Other outbuildings and a brick handball court (still extant) were also built.
In 1998, the property passed to Southeast Missouri State University. The University has restored the Seminary buildings, added new cultural attractions, and converted the site into the River Campus for the visual and performing arts.