Distinguished by its simulated wood-grain paneling, the Colony Park was marketed as either the premium-trim or the sole full-size station wagon offering of the division.

Serving as the flagship, and more exclusive, station wagon series of the Ford Motor Company — as the Lincoln division has not offered a factory-produced station wagon — the Colony Park was marketed against the similar Chrysler Town & Country prior to its 1979 downsizing, and GM's Buick Estate and Oldsmobile Custom Cruiser, each also offering external (simulated) woodgrain trim.

In 1976, American Motors Corporation introduced the Jeep Grand Wagoneer, with similar passenger accommodation, luxury standard equipment and a simulated woodgrain appearance built on a dedicated chassis.

Sharing its roofline, three-row seating configuration, and two-piece tailgate design with the Ford Country Squire, the Monterey station wagon was fitted with exterior woodgrain trim as standard equipment.

By 1955, the Monterey and the Country Squire had become the only station wagons sold with the feature ( genuine wood had been replaced by simulated materials (far less expensive and essentially maintenance-free).

To position the model upmarket (against the Buick Estate and the Chrysler Town & Country), the Colony Park was styled with exterior woodgrain trim.

As with the preceding Monterey wagon, the Colony Park was styled with simulated mahogany exterior paneling and maple trim.

Sharing trim commonality between the Montclair and the Turnpike Cruiser (the anodized gold trim of the latter was made optional[2]), the Colony Park was among the first station wagons to offer a tailgate with a retractable rear window (optionally power-operated);[3] the hardware was adopted for the "Breezeway" rear window of the Turnpike Cruiser.

[2] To further enhance driving safety, a "Visual Aid" option package installed tinted windows, windshield wiper washers, reverse lights, and a non-glare rearview mirror.

Though the scalloped fins remained, the taillamps were reshaped from a delta shape to a rocket style, with additional chrome trim on the C-pillars.

For 1958, the control panel was revised; along with a simpler layout, an optional "Multi-Drive" version introduced multiple drive modes for the 3-speed automatic.

[14] For 1959, Mercury introduced the second-generation Colony Park as part of its new "Country Cruiser" station wagon series, again slotted above the Commuter and Voyager.

Offered as in a 4-door 9-passenger configuration, the larger body (growing to a 126-inch wheelbase) retained the hardtop roofline of the previous generation; though the A-pillar was now vertical, the windshield grew significantly in size.

Mercury station wagon nameplates remained the same, with the Commuter differentiated from the Colony Park by its lack of wood-grain trim and higher level of optional equipment as standard.

[14] Though the 1961 redesign of the Mercury product line was not intended as downsizing, the transition between the model years marked a significant decrease in exterior dimensions.

The Colony Park remained the luxury level Mercury vehicle, with many optional items included with the listed retail price of US$3,118 ($31,791 in 2023 dollars [13]) and selling 7,887 examples.

While the Colony Park retained its roofline alongside the Ford Country Squire, it adopted the slab-sided design language taken on by Mercury sedans, heavily influenced by the exterior of the Lincoln Continental.

The Colony Park underwent two exterior revisions, in 1967 and 1968, following Lincoln Continental styling updates; redesigns were made to the simulated wood paneling, where the entire side of the body was covered and eliminated the tapered appearance on the front fender.

[21] The Magic Doorgate was reworked so that it could swing outward like a conventional door without having to roll the window down, while the glass had to be retracted when opened downwards as a tailgate.

[21] Coinciding with the addition of 5-mph bumpers, Ford and Mercury station wagons underwent a major redesign for 1973, including a completely new roofline.

The 302 V8 was given fuel injection (now marketed in metric as a "5.0 L"), with both engines paired to the 4-speed AOD overdrive transmission, the first of its type in an American full-size car.

For 1987, Mercury brought the Colony Park in line with the Sable and Topaz by introducing GS and LS trim levels.

After nine years with only detail changes to the body and trim, the Colony Park received a major update alongside the Grand Marquis for 1988.