Tim and Jennifer Caron's house in Excelsior is historic in at least two ways: It's the former home of the late Jimmy Hutmaker, the legendary "Mr. Jimmy" who (many believe) was immortalized by the Rolling Stones, and it's on the local list of historic homes.
The Carons bought the house in 2004 from Hutmaker, who put it up for sale as a potential teardown. But instead of demolishing the century-old house, the couple renovated and expanded it while maintaining its architectural style, including its original windows and doors. When they sit out on their front porch, said Jennifer Caron, a City Council member, "People stop and say, 'I love your house.' "
If only all home construction in Excelsior were as warmly received. City officials are facing a thorny challenge: how to give homeowners the freedom to build what they'd like without changing their neighborhoods' quaint lakeside vibe.
"How do we retain our property values, how do we retain our charm, how do we maintain the peace in town?" said Jules Macaluso-Harrison, who sits on the city's Planning Commission.
Teardowns are unpopular in many communities, but Excelsior's unique character cranks up the tension. The Lake Minnetonka city, smaller than a square mile, was a resort town at the turn of the 20th century. It's got a housing stock sprinkled with century-old summer cottages as well as homes from every era since. Many houses are set on yards that tend to run small and often lack garages, and offer views of the lake or the Commons, a large lakeside park.
But cottages, however picturesque, don't satisfy the modern penchant for spacious dwellings. An influx of affluent residents has changed the dynamic in Excelsior, as the percentage of residents with household incomes over $200,000 has gone from 4% to about 11% in the past decade. That's reflected in the desire for upscale residential property.
In 1990, the median value of an Excelsior house was just slightly higher than that of Hennepin County or the metro area as a whole — around $200,000 in dollars adjusted for inflation. Since then, Excelsior's home values have shot up well beyond those of both the county and the metro; according to data from the Census Bureau and the Metropolitan Council, the median value of an Excelsior home is about $463,000, roughly double the medians in Hennepin and the metro area as a whole. That hike is pricing out home buyers in lower income brackets.
And while longtime Excelsior residents cherish the vintage look of their older neighborhoods, "It's not easy to tell someone who just came in and paid $500,000 for a lot that you don't get to build exactly what you want," Macaluso-Harrison said.