Diddy is expanding his list of endeavors with the opening a charter school in Harlem, the hip-hop mogul's native neighborhood. The Capital Preparatory Harlem Charter School will launch for the fall 2016 school year, following his five-year search for educational partners and community leaders, and Diddy says that creating the school is a "dream come true."

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"I want to impact the lives of young people in my community, and build future leaders," he said in a statement. "The first step is offering access to a quality education."

The school will be overseen by Capital Preparatory Schools' founder Dr. Steve Perry, who initially founded Capital Prep Magnet School in Hartford in 2005, and will be housed in the same building as El Museo Del Barrio. Diddy and the board have also selected Orlando educator Danita Jones to serve as principal, per a press release. The school's website states that their mission is to provide disadvantaged Harlem students with skills necessary for college and careers.

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The Capital Preparatory Harlem Charter School, located on East 104th St and 5th Ave, is currently accepting applications for the 6th and 7th grades and will enroll 160 students. They plan to add a grade each year until the school is fully enrolled with 700 students in grades 6th through 12th.