WAUKEE, Iowa — Developers of an unfinished 55+ housing development in Waukee have filed for bankruptcy, leaving the future of the community up in the air.
The Estates of Waukee acquired the land in 2022, and Pella-based developers Jeff and Tina Ewing began construction began construction in 2023. But despite the thousands of dollars invested by nearly 250 creditors, the homes are not finished.
The Ewings filed for Chapter 11 bankruptcy on March 5. Attached to the bankruptcy filing is a list of nearly 250 creditors, or entities that have claims against those in debt.
According to the U.S. Securities and Exchange Commission, Chapter 11 bankruptcy is an attempt from a business to reorganize their debts and try to become profitable again. This means that the long list of investors, contractors and buyers could get their money back in the future — but it is not a guarantee.
Local 5 has confirmed that no one is living in any of the properties, and there is no active construction going on at this time.
However, several of the housing units within this development are still listed as available on the property management company’s website.
In a statement to Local 5, Waukee Community Development Director Andy Kass said city staff "are aware of and continue to monitor the situation regarding the Estates of Waukee development."
Kass added, "If the building permits for these homes expire prior to completion of the homes or if there are conditions present on-site where they could be considered a hazard to the general public, the city would then work with the property owner and/or developer to address and mitigate any issues."
The Ewings' attorneys, Austin and Bryant Parker, told Local 5 in a statement Thursday:
"It is our intent to circulate comprehensive plans of reorganization concerning each affected area that 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."
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