Bays Investment Corp will host a ceremonious ribbon cutting for its Bays Tower apartment building as part of its grand opening.

The ribbon cutting will be held 4 p.m. Thursday 331 N. Ottawa St. in Joliet.

Bays Tower has 140 apartments and opened earlier this year. The site previously was the Housing Authority of Joliet’s Murphy Building.

Developer John Bays also has downtown apartments at three other locations: the former St. Anthony’s Catholic Church, a former International House of Pancakes restaurant and the former Rialto Square office building on Chicago Street.

Bays said in August he has approximately 475,000 square feet of space in downtown Joliet, which is part of 1.2 million square feet of developed space that he rents in the Joliet area.

Bays is the most active developer in downtown Joliet. He has office buildings, commercial space, other apartments and even a parking deck that he bought from the city of Joliet.

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