Developer vanishes with $4 million, mortgage applications hit record low, & more

By Emily Myers| July 21, 2022 - 10:30AM

Emily Myers for Brick Underground

A Brooklyn developer—Xi Hui "Steven" Wu—is accused of disappearing with $4 million in deposits from condo buyers at 345 Ovington Ave., in Bay Ridge (New York Post)

Construction starts on the Mount Hope Walton Apartments, a $55 million low-income housing development in the Bronx with 103 affordable apartments and a community gym (press release)

Demand for new mortgages continues to crater, hitting a 22 year low (The Real Deal)

Mayor Eric Adams estimates 2,500 Latin American immigrants entered New York City's homeless shelters in recent months (The City)

A Brooklyn judge throws out a lawsuit trying to overturn the Gowanus rezoning (Brooklyn Paper)

Check out one of the city's 550 cooling centers where you can escape the heat for free (Gothamist)

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