'Mirvac Queensland and City Pacific Limited have entered into a joint venture agreement to develop a further 123 hectares on land adjoining their Gainsborough Greens course at Pimpama on the northern Gold Coast.This will now be a $1.25 billion master-planned residential community over 489 hectares with plans to accommodate an urban village and some 2,500 dwellings including golf course frontage lots, traditional lots, small lots, townhomes, villas and golf frontage walkup apartments surrounded by an upgraded 18-hole championship golf course, extensive parkland and nature conservation areas. The first settlements are forecast to occur in the second half of 2009. Mirvac will manage the 10 year project on behalf of the joint venture.'