Realtor and developer Mark Hansbarger is proposing a luxurious lakeside resort at Walters Lake, estimated to cost over $500 million, as Steuben County vie for Indiana’s latest casino license, competing against Allen and DeKalb counties.

This expansive 186-acre development located west of Fremont will feature a 400-room hotel, various dining options, trails, fun family activities, and a casino. Hansbarger emphasized that this project aims to establish a comprehensive resort experience, rather than solely focusing on gaming.

“Our approach stands out because this will be a resort that also includes a casino,” Hansbarger stated, as covered by WANE.

The site boasts over 3,400 feet of pristine shoreline along Walters Lake, positioned approximately half a mile from the Michigan state boundary and about a mile from the Indiana Toll Road, with quick access to Interstate 69. Hansbarger believes this strategic location gives Steuben County a competitive edge over its rivals, Allen and DeKalb counties.

“Nearly 48% of projected revenue would originate from Michigan,” Hansbarger noted, referencing insights from a feasibility study conducted by the Steuben County Economic Development Corporation. “This advantage is something Allen and DeKalb counties lack.”

Earlier this year, Indiana lawmakers enacted House Bill 1038, paving the way for Allen, DeKalb, and Steuben counties to vie for an additional gaming license. A recently published feasibility study by the Steuben County Economic Development Corporation suggests that a casino resort could potentially yield up to $16.6 million in annual tax revenue and generate between 800 to 1,200 jobs.

Hansbarger has initiated talks with several prospective resort and casino operators, highlighting that his role is that of the developer and landowner, not the casino operator.

The Walters Lake property is currently listed for $3.75 million; however, Hansbarger stated his primary intention is to assemble a suitable development team for this initiative.

According to the proposal, the hotel and resort facilities would line the shoreline, while the casino would be located further back into the hillside to maintain the scenic views and lessen the impact on nearby residential areas. Hansbarger stressed that this controlled-access resort will offer overnight accommodations and outdoor amenities, distinguishing it from traditional roadside casinos.

“It needs to benefit the county, the residents, the lake, and the entire region,” Hansbarger remarked.

The proposal was presented ahead of a Fremont Plan Commission meeting on Tuesday, where members were scheduled to assess a proposed overlay district for the site. This district would create regulations for traffic management, lighting, environmental protections, and other design specifications.

Should Steuben County residents consent to casino gambling in a referendum this coming November, developers will have until December 1, 2026, to submit a detailed proposal to the Indiana Gaming Commission.