CREDIT crunch fears will not stop the development of a site in West Swindon, a developer has claimed.

GreenSquare last year bought a site at Westlea where a former police station stood.

The site is close to Mead Way and the present Westlea fire station.

GreenSquare's plan is to develop a number of new homes there.

In recent weeks, national builders have said the failing house market is hitting them hard.

Many have been forced to lay off staff.

In Swindon, Taylor Wimpey recently closed its offices at Windmill Hill, making about 60 people redundant.

Now senior managers at GreenSquare have said that despite other financial problems elsewhere, their scheme will still go ahead.

"It's true that current market conditions have had a real impact on the new homes programmes for some developers," said Vic O'Brien, director of new business and development for GreenSquare.

"But our plans for the former Westlea Police station site are still very much on course."

GreenSquare's plan for the site also includes provision for affordable housing provider Westlea Housing and Oakus, which develops new homes for sale.

And its project is being developed hand-in-hand with Swindon Council.

"We're delighted to be working in partnership with Swindon Council on these plans.

"The concept is to provide around 95 new homes specifically for older people.

"More than half of these homes will include an extra care' scheme with specialist support for these older residents, and access to shared facilities.

"However, a scheme like this can only go ahead with the support of grant funding from the government.

"So together with the council we are working hard to secure this now.

"We do expect that this will take some time.

"But we still hope to be able to realise the site's development potential at some time within the next two years."