Sean Combs is planning to open a charter school this fall.

On Monday, the Capital Preparatory Schools announced that Combs, also known as P. Diddy (formerly Puff Daddy), has revealed plans to open a new school in Harlem, NY, which the rapper noted as a "dream come true.”

“I want to impact the lives of young people in my community, and build future leaders. The first step is offering access to a quality education,” Combs said in a statement to The Huffington Post on Monday. “Every young person should have the tools they need to succeed. All our children should be able to pursue their dreams. That is something I can impact with this school.”

In addition to Combs' role in the launch of the new charter school, he will also be joined by educator and founder of Capital Preparatory Schools, Dr. Steve Perry, who will "oversee the school," and Danita Jones, who will serve as the school’s principal.

Prior to the charter school's opening this fall, more teachers and school staff members are expected to be announced.

Combs has reportedly been working on the launch of his new charter school for the past five years, and he has met with local leaders and education experts, including Dr. Perry, to form a game plan to better the lives of Harlem students.

“I’m inspired by Sean Combs’ belief that educating our young people is the key to opening up a world of opportunity for them,” Dr. Perry said in the release. “Sean and I have spent many long hours over the last five years talking about education and how best to meet the needs of the young people of Harlem, and I couldn’t be more pleased to continue this journey through the opening of the school.”

Combs' charter school is now accepting applications for sixth and seventh grades students, and is expected to add a grade each year until the student count reaches 700 students through the 12th grade.

To find out more about the Capital Preparatory Harlem School, visit their official website here.

Tags: Sean Combs