Future uncertain for Sinclair Road 55-plus community after developers file for bankruptcy

A pair of Iowa developers has filed for bankruptcy in federal court, leaving the future of homes and properties in three states — including those yet to be constructed in Columbia — uncertain as court records show creditors are owed millions of dollars, including for luxury vehicle purchases.

Jeffrey and Tina Ewing, husband and wife developers from Pella, Iowa, filed for Chapter 11 bankruptcy in federal court on March 5. Their real estate business Vintage Cooperatives builds homes and independent living communities for people who are 55-years-old and older in Iowa, including in Altoona, Ames, Ankeny, Bettendorf, Coralville, Des Moines, Indianola, Iowa City, Johnston and Pella. Properties then are managed by a locally elected member board.

It also has communities under construction or planned in Cedar Rapids, Dubuque, Iowa City, North Liberty and Waukee, as well as Columbia and Liberty, Missouri and Sioux Falls, South Dakota.

The Estates of Columbia has street and utilities infrastructure, but no homes are under construction as of Thursday. Forty-six lots are planned in the subdivision on a parcel of land adjacent to the separate South Sinclair Road Legacy Farms development. In Tribune reporting from August 2022, six people already had placed reservations for the gated retirement community where houses start at $450,000.

The Vintage Cooperatives model means residents buy shares of the overall development rather than a deed for a specific lot, said Chris Newman, Vintage Cooperatives sales manager in 2022.

At least five homes have been sold at the development in Waukee, Iowa, under construction now. It's unclear how the bankruptcy proceedings may affect those homeowners, though the Ewings' lawyer told the Des Moines Register there's a plan in place to address the issue.

The Ewings' other real estate businesses and holdings include Ewing Land Development and Services LLC and Harvest Investments LLC.

What's the future of these senior homes?

Austin Parker, one of the Kansas City-based attorneys representing the Ewings in federal bankruptcy court, told the Register in a statement they're working on a plan of reorganization that would "work to secure each resident in their homes, maintain the high construction quality for which each of these communities have become known for and maximize dollar returns to not only our construction lending partners but to the broader list of creditors that have believed in each of these projects."

Parker added that the bankruptcy reorganization also will affect land slated for development in Cedar Rapids and in Sioux Falls, South Dakota, in addition to properties under construction in Waukee and Dubuque and in Missouri. The Estates of Liberty, Missouri, development already had homes under construction in August 2022, according to previous Tribune reporting.

"We are confident that each of these communities has a bright future, and we are working very hard to resume their forward progress in the coming weeks," Parker added.

Vintage Cooperative's Estates of Waukee broke ground in 2022 with a plan to build 29 single-family homes for seniors on 8-acres of the Kettlestone development off Grand Prairie Parkway.

The Waukee community's floor plans include two- and three-bedroom homes, with community amenities including a clubhouse, fitness center, pickleball court, pool and lounge. Homeowners hold membership stock in the organization, which owns the land, buildings and common areas.

As of September 2023, five homes had been sold, according to Vintage Cooperative's website.

A Register photographer observed work continuing at the site on the afternoon of March 13, though none of the homes appeared to be completely finished.

The Register attempted to contact some metro area creditors listed in federal court records but did not immediately receive responses.

Heather Behrens, spokesperson for Waukee, said the city has not been involved with the issue so far because it’s a private development. It only would intervene if construction shut down for long enough that the developer would have to reapply for building permits or the site became a hazard to the public, she said.

The Ewings owe millions of dollars to 100 or more creditors, including for luxury vehicle purchases

Federal court filings list more than 26 pages of creditors whom the Ewings owe, including individuals, banks, credit unions, credit card companies, construction companies, a landscaping company, an engineering consultant, accounting firms, municipal and county offices, newspapers for advertising expenses, online marketing and communication services, electric companies, and mobile phone and in-car services such as OnStar and Sirius Radio.

The Ewings estimated they owed between 100 and 199 creditors. Some of the top creditors — 15 banks, credit card companies and credit unions — are together owed more than $1.9 million.

Much of that debt was issued for "operating capital" but the Ewings also owe more than $372,000 for a motor home, more than $52,000 for a GMC pickup truck, more than $71,000 for two luxury SUVs — a Land Rover and a Lincoln — more than $34,000 for a Polaris off-road utility vehicle and more than $36,000 for a tiny home.

Creditors will have the opportunity to meet with the Ewings on April 5 in federal court in Des Moines, according to court filings. At such a 341(a) meeting of creditors, debtors are required to answer under oath questions about their conduct, property, liabilities, financial condition and other matters. Creditors also may ask about assets and other things related to the case.

Parker's statement said that Ewing Land Development and Services and several subsidiaries have been "negatively affected by a myriad of issues outside of their control," including interest rate hikes since the COVID-19 pandemic.

Investors and a construction contractor had already been seeking compensation from the Ewings in Iowa courts

The Ewings' alleged financial issues had been building for months in Iowa courts before they filed for bankruptcy in federal court.

South Dakota couple Dan and Ann Clark filed a lawsuit in January 2024 in Marion County alleging that Harvest had pursued and received a $900,000 loan from them in April 2023 to help finance a private development agreement with the city of Pella.

The Clarks alleged Harvest was required to make monthly repayments to them, and if Harvest ever missed a payment, the remaining balance and accrued interest would be due. The Ewings also were to be personally liable for the loan.

Harvest failed to pay, the Clarks alleged. The outstanding amount was not included in court records.

The Ewings also allegedly sold property that the Clarks had purchased a $152,250 share in. The Clarks say they are owed more than $20,000 in interest they allege was not paid to them upon sale of the property.

A search of online court records in Missouri found no state court cases where the Ewings are listed.

In February 2024, a West Burlington construction contractor, Bi-State Contracting, filed a lawsuit in Des Moines County alleging that Jeffrey Ewing and his companies failed to make progress on or provide evidence of financing for two Vintage Cooperative communities in Cedar Rapids and Iowa City — which left Ewing in default on promissory notes with the construction contractor.

Vintage Cooperatives' websites for the projects showed on March 13 that none of the 35 planned homes at the Cedar Rapids development had been sold as of September 2023, and the "Borough of Iowa City" development at the intersection of Scott Boulevard and Rochester Avenue was described as "proposed."

Bi-State Contracting sought for the Cedar Rapids project $300,000 plus interest since April 2023, and another $25,000 in damages. For the Iowa City project, the contractor sought $300,000 plus interest since November 2021, and another $45,000 in damages.

More: 55-and-older gated community planned within Legacy Farms subdivision off Sinclair Road

Charles Dunlap of The Columbia Daily Tribune contributed to this report.

Phillip Sitter focuses for the Des Moines Register on reporting on suburban growth and development in the western metro areas.Phillip can be reached via email at psitter@gannett.com. He is on X, formerly known as Twitter, at @pslifeisabeauty.

This article originally appeared on Columbia Daily Tribune: Estates of Columbia future unclear after bankruptcy filing