depending on how much cash you want to shell out, you might consider something along the lines of an MSE wall, which utilizes geotextile fabric wrapped in layers to hold the slope or cut rather than excavating for a mass retaining wall. downside of fabric is looks - you'd be staring at either black or white fabric. you can, however incorporate what is called a "facing". this can be wood, concrete, shotcrete, plastic, etc, etc... again, all depends on how much you want to spend. also, an MSE wall approach would require you to possibly move more dirt than a concrete wall or steel wall driven into the ground. do a google search of "mirafi" and go to their case histories area for an idea of how these things look/work.
good luck
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