1/42nd is pretty small. 24' would translate to about 6". It may be that the Harbour Lights model isn't far from 1/42nd scale, but my Sturgeon Bay Pierhead is in the storeroom.

This is a job that could use a jig saw, not a table saw. (But you don't need to tell your wife that.)

As for materials, you might use a smooth finish board such as Masonite. If you go to the hardware store, you'll find some sort of self-sticking 'bumper' thingees (Hardware store people will know what they are - probably door bumpers). These could simulate the 'rivets'. The glossy coat of red paint will give it a great look when you are done.

If you've accumulated the necessary photos, I'd be happy to tackle the perspective adjustments so you have 2D images of each of the four sides.