How to setup PHP nginx development environment with multiple versions of PHP in the right way

Question

I want to develop PHP applications with different PHP requirements especially with Laravel 5.1 (which requires php 5.5.9) and Laravel 4.2 (which requires php 5.4). I want to be able to specify which php version is running per application (I mean per virtual host). There are many articles on the web about that setup with nginx and fastcgi, but it seems to be outdated.

Answer 1

For me the setup from http://coderoncode.com/2014/04/18/flexible-php-development-phpfarm.html is the best and the easiest.