Bob and Pam McRae have partnered with golf course designer John Darby to build what will become the second 18-hole course in Wanaka.
It will cover 100ha of the 2900ha Glendhu Station.
The lakeside golf course is at the heart of a bigger development project to integrate sustainable recreation with residential and visitor accommodation, conservation and farming.
The residential development is just south of the golf course.
The McRae family have been working on plans with Mr Darby, of Arrowtown, since 2002.
The farm was established in 1859 and the McRaes have owned it since the 1960s.
About 1900ha surrounding the golf course has been protected from further development by open-space covenants.
The 18-hole championship golf course will be open to the public and playable in 2025.