The process to sell Asherwood Estate via two transactions includes a private trust and a proposed new housing development on one of the last premier sites in west Carmel.
Given to The Great American Songbook Foundation in 2017 by Mrs. Bren Simon, wife of the late Mel Simon, former co-owner of the Indiana Pacers and co-founder of Simon Property Group, the estate features 107 acres. While the Asherwood Estate mansion will remain a private residence with 16 acres, Gradison Design Build and Old Town Design Group plan to close a deal in May 2021 on the remaining 91 acres.
Gradison Design Build and Old Town Design Group plan to develop the existing golf course into Carmel’s newest gated community – Asherwood of Carmel – featuring 40 custom homes, each one acre or greater in size. Combined home and lot prices are expected to start at $1.7 million.
“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 Design Build will present its plat plan to the Carmel Plan Commission on March 16. Construction is expected to begin by summer 2021. Homes will be constructed by preferred builders including Gradison Design Build, Old Town Design Group and Wedgewood Building Company. Lot sales are expected to take place in June 2021 via a lottery format.
“We have already received a great deal of positive feedback about bringing new life to the Asherwood Estate,” said Jeff Langston, owner of Old Town Design Group. “It is a unique opportunity to create a special place beyond architecture and design.”
The final sale price and buyer of the private mansion/acreage will not be disclosed.
Asherwood Estate is located off Ditch Road, just south of 106th Street. For more information and updates about Asherwood of Carmel, visit AsherwoodCarmel.com.