NEW YORK, NY - MAY 06: Sean 'Diddy Combs' attends the Sean "Diddy" Combs Fragrance Launch at Macy's Herald Square on May 6, 2
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Puff Daddy (formerly known as Diddy) is planning to give back to his community in a special way, as he has announced plans to open a charter school in Harlem. The rap mogul, who was born in the NYC neighborhood, will launch Capital Preparatory Harlem Charter School this fall.

"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," Puff shared in a press release.

The school has been in the making for five years, and will be located at 1 East 104th Street. For any parents who have children heading into 6th and 7th grade (it will expand through 12th grade in the future), the institution is now accepting enrollment applications.

When he's not busy helping kids to further their educations, Puffy is reportedly releasing his final album, No Way Out 2 (the sequel to his 1997 debut), sometime this year.