The land was formerly owned by Ralph J. Stolle, a prominent inventor, businessman and philanthropist in Warren County.
Until Stolle’s death in 1996, the farm was used as a research farm for milk production.
Developer Bill Hines of San Mar Gale Development Co., described the project as “a stand-alone village with a lot of amenities such as green space, walking trails and a village town center business area for residents to do light shopping.”
He said the project was to include the construction of 2,150 upscale homes, starting at $400,000 to $450,000.
“The project is sitting in mothballs,” Hines said.
He said it’s hard to say when the project will ever get off the ground because of the real estate market and the economy.
Due to the uncertainty of the market, Hines said the money for the six to 10 lot reservations that the development company received early on have been returned to those buyers.
The PUD for the project, which was approved by the Warren County Commission in 2006, contained a number of conditions after an agreement was negotiated with the developers.
The plan for the 3,239-acre San Mar Gale development included the 2,150 homes that consisted of 1,650 single family homes and 500 multi-family homes; more than 900 acres of green space; and a 22.5-acre town center.
In addition, the developer was to create a special taxing authority for the development to pay for infrastructure and other costs which would have the property owners pay higher taxes; build two private wastewater treatment plants; pay the Lebanon City Schools $3 million from the special taxing authority; and pay $1,500 per home as the homes were sold.
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