The London Regen School will welcome its first students next April.
It will offer regeneration apprenticeships enabling students to provide practical support to developing projects in the capital.
The school was set up by community groups from Brixton, Finsbury Park, Newham, Notting Hill, Tower Hamlets, and the East End, alongside Regen School UK, which developed training and support packages for community projects in South Yorkshire two years ago.
Hayley Rose, development manager at Regen School London, said: "Its philosophy is based on sharing the experience of the people who run successful community organisations and projects."
It has already set up mentors from local organisations to guide the first 160 students' projects.
Jon Bright, head of implementation at the office of the Deputy Prime Minister's Neighbourhood Renewal Unit, welcomed the school: "We see this as important to the delivery of the neighbourhood renewal agenda."