Sean “Diddy” Combs, one of the world's most famous entrepreneurs and musicians, announced on Monday that the charter school he founded will open in the fall of 2016, the AP reported.

The Capital Preparatory Harlem Charter School, which has been in the works since 2011, will open it’s doors at 1 East 104th St. this fall in a building shared with El Museo Del Barrio and across the street from the Museum of the City of New York. 

RELATED: App creates ‘new age’ communication between New York City parents and teachers

“Creating this school is a dream come true for me. 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 wrote in a press release. “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.”

The school will be accepting only sixth- and seventh-graders for the 2016-17 school year, but will begin accepting a new grade of students every year thereafter, Newsweek reported.

RELATED: Parents, officials call for funding to be restored for summer programs for thousands of students

The school will be headed by Steve Perry, who founded Capital Prep Magnet School in Hartford, Connecticut, in 2005 which Capital Preparatory Harlem is based off. The school’s principal will be Florida-based educator Danita Jones, the AP reported.

Matt Lee is a web producer for Metro New York. He writes about almost everything and anything. Talk to him (or yell at him) on Twitter so he doesn’t feel lonely: @off_Yellow.