The singer, alongside her long-time manager Lisa Barbaris, will open the doors of the True Colours Residence on West 154th St near Frederick Douglass Blvd in Manhattan on September 1. The centre will be the first of its kind in New York State.
"In New York City, a very disproportionate number (up to 40%) of homeless youth identify as LGBT," Lauper wrote in a press release on the True Colours website.
"Even more disturbing are reports that these young people often face discrimination and at times physical assault in some of the very places they have to for help. This is shocking and inexcusable!
"We'll be building from the ground up so our residents will have a brand new, modern building with studio apartments for each resident and both indoor and outdoor community space to socialise or attend education and recreation programmes.
"Each resident will be responsible for paying affordable rent based on their income and will receive ongoing assistance in obtaining employment best suited to their individual interests and skills."
The statement continues: "Although TCR will not require participation in its programmes, a variety of social and educational support services will be available to all who request them. Our primary goal is to provide a physically and emotionally safe and supportive environment that will empower our young residents to be the self-loving, happy and successful individuals they were meant to be."
In June, Lauper celebrated the legalisation of gay marriage in New York, saying that she was "proud" to be a New Yorker.
> Cyndi Lauper sings at airport