The actor, rapper, and singer Sean Combs "Diddy" is opening a charter school in Harlem, which is a "dream come true" for him.

The Capital Preparatory Harlem Charter School will be up and running by the fall of 2016, Combs announced earlier this week, according to media reports.

The school passed through the Board of Regents in 2014, but Combs' association with the venture was kept a secret. The new center of education for the young will be modeled on Capital Preparatory Magnet School in Hartfort, which is reported to have high graduation and college acceptance rates.

Combs hired Dr. Steve Perry, the founder of the Capital Preparatory Magnet School, to design and structure the new institute after his school and to oversee it as well. An Orlando-based educator Danita Jones will be the principal of the new school. More reputed educators are expected to be announced before the school opens this fall.

"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. "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."

Perry, who was recruited in 2011, said that Combs quietly built up support for the school in community, apart from giving him an office space.

"It's important to note it was he who inspired our team to come in and expand into New York," Perry said. "It starts there, and the rest of the role will develop over time."

The school will open at Fifth Avenue and East 104th street in New York, with 80 sixth graders and 80 seventh graders. It will grow one grade per year, with a goal of enlisting 700 students between grades six and 12.

"I'm inspired by Sean Combs' belief that educating our young people is the key to opening up a world of opportunity for them," said Perry. "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."