Registrations of interest for The Vive are open online until February 14.
Metropolitan general manager Luke Willcock said an electronic random selection process would follow to ensure an equal chance for all.
Each household can buy only one lot in the estate.
Lots range from 563sqm with a starting price of $295,000.
Home builders in the Alcock Brown-Neaves Group are offering an additional 14 house and land packages.
Mr Willcock said community feedback on proposed public art in the development late last year highlighted the area’s appeal.
‘Craigie locals love their suburb with the most treasured attributes being the beach, parks, great schools and friendly community,’ he said.
‘The Vive will transform the former high school site into a lively residential community with open space, walkways and public art.’
About 380 people will live in the 10-hectare development, bounded by Camberwarra Drive, Fenellia Crescent and Arawa Place.
Included is a 4477sqm residential parcel for group housing for younger adults who need assisted living.
Stage 1 civil works have started.
To be eligible for the random draw, register at land corp.com.au/thevive
For details, call Phillip Grove on 0427 824 689.