The biggest new multi-family housing and parking development in more than 50 years is underway in Excelsior just as the city celebrates designation on the National Register of Historic Places.

“It’s really important that this fits in with both the context of the historic community and the residential community,” says Dan Johnson of Red Leaf Partners, one of the developers of the complex called “One West Drive.” Monarch Development Partners is also involved. The development will include 38 “market-rate” apartments and 11 row houses.

“Row houses will wrap both Third Street and West Drive all the way around the perimeter, and in front of those row houses will be a tree-lined boulevard, so there are 50 new trees that are planted in this area,” Johnson told 5 EYEWITNESS NEWS Wednesday as he stood above the site where a below-ground parking ramp is being excavated as part of the project.

That’s no easy feat given how close the area is to Lake Minnetonka.

“Soil analysis shows that there’s no water at this depth, but you never know what you’re going to run into,” says Curt Olson, senior construction superintendent for Ironmark Building Company.

The parking that would result was initially a concern for retailers and residents in the area last summer when plans were being made.

However, most appear pleased the new development will more than double the amount of public parking available, going from 108 spots before to 244. There will be additional parking available just for residents of the new housing.

“We have a little difficult time here while they’re going through the construction process, but I’m excited about the end result,” says Pete Miller, owner of The Lakes Running Company store, which shares a parking lot with the new development.

Retailers are also excited about the city’s new designation as a historic place, which they hope will add to the charm and attraction of Excelsior along with the lake and other amenities.

“Getting us on the map any way we can is a great thing,” says Brittany Slusar of Amore and Fede, a women’s clothing retailer in Excelsior. “We love all the attractions that we have in town here, and so just making it historic, or making it more official, is even better.”

Retailers are also relieved the city has decided parking in the city-owned ramp will be free, just as the surface lot was before the construction eliminated it. However, the city will likely have paid parking for some special events.

One other thing of note for people who live within several miles of Excelsior. They might have noticed the siren that has sounded for years at noon, 6 p.m. and 9 p.m. has been silenced. That is temporary because the siren used to be on top of the old city hall building that was demolished to make way for the new development. The siren will be incorporated into the new development next summer. For now, it’s sitting at the Excelsior Public Works building.

The apartments and row houses are expected to be finished by the summer of 2024.