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Local realtor and developer Mark Hansbarger is pitching a more than $500 million lakeside destination resort at Walters Lake as Steuben County competes with Allen and DeKalb counties for Indiana’s newest casino license.
The proposed development on a 186-acre property west of Fremont would include a 400-room hotel, restaurants, trails, family attractions and a casino. Hansbarger said the project is designed as a broader resort development rather than a traditional gaming site.
“That’s the difference, because this is a resort with a casino,” Hansbarger said, as reported by WANE.
The property includes more than 3,400 feet of shoreline along Walters Lake and is roughly a half-mile from the Michigan state line, about a mile from the Indiana Toll Road and minutes from Interstate 69. Hansbarger said that location gives Steuben County an advantage over Allen and DeKalb counties.
“Forty-eight percent of the revenue would come from Michigan,” Hansbarger said, citing a Steuben County Economic Development Corporation feasibility study. “That makes a difference. That’s what Allen County and DeKalb County do not have.”
Indiana lawmakers approved House Bill 1038, allowing Allen, DeKalb and Steuben counties to compete for one new gaming license. Earlier this year, the Steuben County Economic Development Corporation released a feasibility study estimating that a casino resort could generate up to $16.6 million annually in local tax revenue and create 800 to 1,200 jobs.
Hansbarger said he has begun discussions with several potential resort and casino operators, and noted he is serving as the developer and landowner, not the casino operator.
The Walters Lake property is currently listed for sale for $3.75 million, although Hansbarger said his primary goal is to assemble the right development team to pursue the project.
Under the proposal, the hotel and resort amenities would be placed along the shoreline, while the casino would be set farther back into the hillside to preserve views and minimize impacts on nearby homes. Hansbarger said the controlled-access resort, with overnight lodging and outdoor amenities, would differ from a roadside casino.
“It has to be good for the county, it has to be good for the people here, it has to be good for the lake, it has to be good for our entire area,” Hansbarger said.
The proposal was discussed Tuesday ahead of a Fremont Plan Commission meeting, where members were scheduled to review a proposed overlay district for the site. The district would establish standards for traffic management, lighting, environmental protections and other design requirements.
If Steuben County voters approve casino gambling in a referendum this November, developers would have until December 1, 2026, to submit a formal proposal to the Indiana Gaming Commission.