There are many homes that have historic value ,too. I believe that some "old" families from MInneapolis-St Paul had homes there and some may still be standing. (I'd like to think so.)
There is North Ferndale Rd. which runs up NW of Wayzata , past Excelsior Blvd to Cty Rd 6, where it ends It also has nice homes, but not to the magnitude of South Ferndale. I imagine you were referring to the latter.