[1] He briefly attended Rutgers College in New Brunswick, New Jersey, and entered the Pennsylvania Academy of the Fine Arts (PAFA) in 1875,[2] where he studied under Thomas Eakins at various times between 1879 and 1885.

Stephens was influenced by the theories of Henry George, who argued in his 1879 publication Progress and Poverty for a more equitable distribution of wealth, through a single tax levied on the actual value of land irrespective of improvements a person might make.

The single-taxers hoped that by gaining control of a small political entity they could put their principles into action and prove the legitimacy of Henry George's aims.

[9] With the financial help of Joseph Fels, a wealthy soap manufacturer and single-tax proponent, Stephens purchased the Derrickson property, a 162 acres (0.66 km2) farm six miles north of Wilmington on June 12, 1900.

Price designed a town plan that provided communal open space, encouraged people to mingle with their neighbors, and preserved the woodlands along Naaman's Creek.

[11] Stephens continued to live and lead in Arden for three decades after its founding, earning the nickname "Patro" (a word meaning "Father" in Esperanto) by the villagers.