The 10-episode series will follow the lives of five students at Cincinnati's School for Creative and Performing Arts. It is set to debut March 19.
MTV described the show as the first of its kind to be scored with music performed by cast members in-scene. Each episode of "Taking the Stage" will feature songs and dance routines written and choreographed by the cast.
"'Taking the Stage' is an entirely new genre of television for us ... the reality musical drama," Tony DiSanto, head of MTV programming, said in a statement. "It has heart, emotion, real stakes, and music organically woven in to the stories as the method of expression for this amazing group of kids."
"I spent my formative years at SCPA, so I know first-hand what a fantastic yet often intense environment it can be," added Lachey, the show's co-creator and executive producer. "This show is a great journey for me both personally and professionally. It's provided me with an opportunity to step behind the camera and get into development and producing, as well as put a spotlight on the great city of Cincinnati and my alma mater."