Frequently Asked Questions

Property development is the process of developing buildings or land into a higher use value. It’s a multi-faceted business which can encompass any of the following - buying land and building property on it; renovating, extending or improving property; converting property from one use type to another. What sets Adjacent Properties apart is being deeply rooted in the community with the ultimate goal of enhancing Phelps County for community growth. In other words, we focus more on the betterment of the community and put less emphasis on turning a quick profit on a project. Check out our past projects here to learn more. 

Adjacent Properties collaborates with local organizations in Phelps County to ensure opportunities are brought to the correct organizations to make them successful. Adjacent Properties has been brought some amazing opportunities from local organizations that have a common goal of community enhancement. These collaborations allow Adjacent Properties to fulfill our vision of making Phelps County the ideal place to raise a family through keeping business and property ownership local and opening up affordable housing opportunities.

Adjacent Properties puts a focus on keeping residential and commercial property ownership in the hands of the Phelps County community. This means Adjacent Properties will work with local entrepreneurs and investors to find the right business fit for the property in Phelps County. 

Because of Adjacent Properties unique direction as a property developer, the company can provide development resources without drastically increasing pricing for an immediate financial return. Adjacent Properties is able to keep commercial rental prices, renovated sale prices and overall business prices low to help open ownership opportunities for community members. Check out the renovation on the Holdrege Sun Theater and Event venue – this full-scale renovation saved the beloved Sun while also maintaining some of the lowest theater prices in the area. 

Because of Adjacent Properties unique direction as a property developer, the company can provide development resources without drastically increasing pricing for an immediate financial return. Adjacent Properties is able to keep commercial rental prices, renovated sale prices and overall business prices low to help open ownership opportunities for community members. Check out the renovation on the Holdrege Sun Theater and Event venue – this full-scale renovation saved the beloved Sun while also maintaining some of the lowest theater prices in the area. 

While Phelps Memorial Health Center created Adjacent Properties, the business decisions are run through an independent board of directors made up of representatives from Phelps Memorial Health Center's executive team and board, as well as a community member, to ensure the company continues to follow the mission of both Adjacent Properties and Phelps Memorial Health Center.