Cunninghame Housing Association Limited, who previously announced plans to develop both the ex school and former Park Place cheese factory, have purchased the old academy grounds.
They plan to build 48 homes all for rent, but first are hosting a community consultation event on July 3 at the new Lockerbie Academy.
A spokesman for the Ayrshire based housing association said: “Cunninghame Housing Association Limited, working in partnership with Dumfries and Galloway Council and the Scottish Government, is preparing proposals for the provision of new build housing at the former Academy site in Lockerbie.
“The project is included within the Dumfries and Galloway Council Strategic Housing Investment Plan document and we would anticipate works to commence on site in the spring of 2019.”
He added: “The association has recently purchased the site and we have now reached a stage where indicative plans and layouts for the new build accommodation have been prepared.
“Our intention is to provide approximately 48 new homes, all for rent. The development will comprise a mix of general needs houses, as well as a number of properties designed specifically to meet amenity needs.”
The academy site has been vacant since 2010 when students and staffed moved to the new build school, which will overlook the new homes if they get the go-ahead.
Encouraging people to attend the drop in, he said: “I would encourage local residents to attend the meeting that is being planned.
“This is a real opportunity to see the former Lockerbie Academy site cleared and brought back into use. It will also give local residents an opportunity to give their views on what may be a potential planning application.”
Meanwhile, Cunninghame last year scrapped plans to develop the land at the old cheese factory.
The consultation will take place on July 3 at the new school site between 2 pm and 6 pm, all welcome.