The 107-acre Asherwood Estate in Carmel will soon be under new ownership again. The estate previously served as the home of Simon Property Group co-founder Mel Simon, who died in 2009, and is being sold through two transactions, one of which could lead to a new housing development.
Indianapolis-based Gradison Design Build and Old Town Design Group in Carmel are expecting to close a deal in May for 91 acres of the estate. The partners plan to redevelop the estate’s golf course into a new gated community called Asherwood of Carmel, which will feature 40 homes, each of which will be at least one acre in size.
“Asherwood of Carmel will be a special project that truly pays homage to the property’s history and respect for privacy,” said Joe Gradison, partner at Gradison Design Build. “We plan to maintain the integrity of the property by creating a private, gated community tucked away from road frontage featuring stunning, custom homes.”
Gradison plans to present its plan to the Carmel Plan Commission in mid-March. If approved, construction is expected to begin by the summer.
The mansion at Asherwood Estate will remain a private residence with 16 acres. The final sale price and the buyer of that parcel is not being disclosed.