Craigieburn Reserve project manager Paul Pope holds a branding iron found at the site during excavation work. Photo by Craig Baxter.
The society has spent nearly $200,000 to excavate and restore a milking byre, dig up artefacts, restore a stone fence and install interpretative panels.
Walking tracks now linked the reserve with Ross Creek.
For far too long the reserve had been without its own identity, Mr Pope said.
Visitors could now learn about the people who had farmed the spot - the Sherriffs, Tanners, and Rankins - and the tough times they faced.
With a fantastic view of Dunedin, Craigieburn Reserve was a great spot for a picnic or community event, he said.
Among artefacts recovered were branding irons, work boots and farming implements.
The site was opened by Dunedin Mayor Dave Cull on Saturday morning, after which an open day was held.