I've been past Pegasus Town a few times. It looks like a big hole in the ground at the moment as the developers are putting in the roads, drains and other services. I'm sure it will be fine, but personally, I wouldn't want to live there. My main reasons for saying that are:
1. It's between Kaiapoi and the sea - prime tsunami belt.
2. The road into Chch from the north is hectic now - it can only get worse when 5,000 people move in to Pegasus Town.
3. It reminds me of the 'new' towns like Cambourne in the UK. I wouldn't want to live there either.
I'm not saying that these reasons are entirely rational and I'm sure that the developers will do a lovely job.
