A pair of Iowa developers has filed for bankruptcy in federal court, leaving uncertain the future of homes and properties in three states — including some under construction in the Des Moines metro, the Des Moines Register reported. Court records show creditors are owed millions of dollars, including for luxury vehicle purchases. Jeffrey and Tina Ewing, husband and wife developers from Pella, filed for chapter 11 bankruptcy in federal court on March 5. Their Vintage Cooperatives real estate business operates 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. 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. At least five homes have been sold at the development in Waukee, 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.
