Developers behind a $205 million family holiday village just south of Elkhart, Ind., have canceled the project after not being able to secure financing, Inside INdiana Business has reported.
The decision follows last fall’s closing of the American Countryside Farmers Market, which was on the same massive piece of property as the planned resort. When announced more than a year ago, developers anticipated the project would create 500 permanent and another 500 construction jobs in Elkhart County.
An RV park was also considered for a tract across a state highway from the site.
County officials tell Inside INdiana Business the land is expected to be sold at auction early this summer.
The county had announed $10 million in assistance through Recovery Zone Facility Bonds for the project, which also included European investors.
Those bonds were not issued and the federal program allowing that option has expired.
Plans called for more than 100 activities and services for entertainment and leisure, including an enclosed tropical water park, shopping facilities, spa and restaurants.