In the late 1980s, the redevelopment of Bloomington's first commercial area of Oxboro Heath, 98th and Lyndale, created an opportunity to provide a distinctive symbol for the city of Bloomington. The concept of some sort of landmark came from a joint meeting of the Oxboro Task Force—a committee of the Chamber of Commerce and the Housing and Redevelopment Authority.
After going over many suggestions such as a statue or water fountain, the idea of a clock tower emerged and members of the task force, other business owners in the Oxboro Redevelopment Area and residents from the community formed the nonprofit Bloomington History Clock Tower Association. The first meeting of the Association took place in November 1989.
In 1990, the Bloomington History Clock Tower Association raised funds from the community for the clock tower's construction.
A resident task force met with Bloomington artist Elizabeth Hood Anderson to create public art for the monument site. There was a history element to the piece including a walkway and eight bronze bas-relief and narrative plaques depicting the history of Bloomington to educate residents and visitors about Bloomington from 1600 to the present.
In January 1998, it was gifted to the City of Bloomington for ownership and maintenance.