Mark Hansbarger, a local realtor and developer, is advocating for a lakeside resort project valued at over $500 million at Walters Lake. This initiative comes as Steuben County vies for Indiana's latest casino license against Allen and DeKalb counties.
The envisioned development spans 186 acres west of Fremont and aims to feature a 400-room hotel, various dining options, recreational trails, family-friendly attractions, and a casino. Hansbarger emphasizes that this project is intended to be a comprehensive resort rather than a conventional gaming venue.
“This is a resort with a casino, which sets it apart,” Hansbarger mentioned, according to WANE.
The site boasts over 3,400 feet of waterfront along Walters Lake and is conveniently located half a mile from the Michigan border, a mile from the Indiana Toll Road, and just minutes from Interstate 69. Hansbarger believes this prime location gives Steuben County a competitive edge over its neighboring counties.
“According to a feasibility study by the Steuben County Economic Development Corporation, 48% of the revenue is expected to come from Michigan, which is a significant advantage that Allen and DeKalb counties lack,” he explained.
Indiana legislators have passed House Bill 1038, enabling Allen, DeKalb, and Steuben counties to compete for a single new gaming license. Earlier this year, a feasibility study released by the Steuben County Economic Development Corporation estimated that the proposed casino resort could generate up to $16.6 million in local tax revenue annually and create between 800 to 1,200 jobs.
Hansbarger has initiated talks with several potential operators for the resort and casino, clarifying that he is acting as the developer and landowner rather than the casino operator.
The Walters Lake property is currently on the market for $3.75 million, but Hansbarger’s main objective is to assemble a capable development team to advance the project.
In the proposal, the hotel and resort facilities would be positioned along the lakeshore, while the casino would be set back into the hillside to maintain scenic views and reduce disturbances to nearby residences. Hansbarger noted that this controlled-access resort, complete with overnight accommodations and outdoor activities, would be distinct from a typical roadside casino.
“It must benefit the county, the local residents, the lake, and the entire region,” he stated.
The proposal was reviewed during a Fremont Plan Commission meeting, where members were set to evaluate a proposed overlay district for the site. This district would define standards for traffic control, lighting, environmental safeguards, and other design criteria.
If voters in Steuben County endorse casino gambling in a referendum this November, developers will have until December 1, 2026, to present a formal proposal to the Indiana Gaming Commission.