Remarkables Primary School takes in the years 3 and 4 for the first time, as part of the $17.3 million facility's staged opening over two years.
About a dozen year 1 and 2 pupils also start at their new school today.
Seventy-four pupils were on the roll last week.
At least another 75 will be enrolled throughout this term.
Principal Debbie Dickson and establishment board of trustees chairman Roy Thompson will welcome all pupils in a special assembly at 9am.
Pupils will receive certificates and badges, before getting down to work.
More than 50 year 1 and 2 pupils were inducted into their new classrooms on February 4, this year, as construction continued.
More than 80 pupils are enrolled now and at least another 81 are enrolled to begin this term and next.
The establishment board received the school's certificate of public use last week, which officially enabled the building to be occupied as a school and shifted its designation from a building site.
"It formalises the handover from Naylor Love to the school board," Mr Thompson said.
Deputy prime minister and Clutha-Southland MP Bill English will officially open the completed school on August 27.
Queenstown businessman Sir Eion Edgar, founding chairman of Queenstown Resort College and former chancellor of the University of Otago, has been invited to be keynote speaker.
Ngai Tahu dignitaries are also expected to attend the ceremony.
Nominations are open for the school's first elected board of trustees.
The establishment board of trustees will hand over to the elected board on September 2, after the August elections.
The school will expand its enrolment to next year include years 5 and 6 pupils and in 2012 years 7 and 8 pupils.
The school is expected to be teaching 460 year 1 to 8 pupils by 2012.
Its enrolment zone includes all of Frankton, Marina Heights, Kelvin Heights, Jack's Point, Lakeside Estate, Quail Rise, Lake Hayes Estate, plus various roads, contributing drives and access roads.
