ANGRY Hazlemere residents are worried about the future of a controversial development which has stood dormant since December.

Developer McCarthy and Stone won a planning appeal to build the retirement flats in Penn Road, but had to stop work there after being hit by financial problems.

People living near the site say they can hear a huge tower crane, which has been left on site, creaking as it moves in the wind.

Councillor Graham Phillips, a member of Hazlemere Parish Council, said many residents had opposed the development, which was forced through by the secretary of state on appeal.

He added: “I live in Penn Road opposite the site, and every morning when I open my curtains I see the pictures of two people advertising retirement living which is 'coming soon'.

“They got rid of three perfectly good family homes, and now there are eight bungalows which will be overlooked by the new flats.

“In the meantime to add insult to injury we are having to look at a building site with a towering crane looming over our property.

“There is not a day goes by when I'm not stopped by someone asking what is going on at the site. People are wondering who would want to take on a half-finished project.”

The developer said they are currently in negotiations with Wycombe District Council to renegotiate the payments of affordable housing contributions.

Anne French, a spokesman for the company, added: “Subject to a satisfactory resolution to this discussion, whereby a payment date is decided that is acceptable to both parties, it would be our intention to re-commence work on the site in 2009.

“The crane that is currently on the site poses no health risk to the public and in fact undergoes regular safety inspections by professional crane erectors.”

The council said there is no time limit for the completion of the work.