Kamehameha Schools said Wednesday it is selling two Kaka­ako blocks fronting Ala Moana Boulevard to MK Development, a joint venture of Koba­ya­shi Group and The MacNaughton Group, to develop two luxury condominium towers with a combined 500 units.

A spokesman for Kame­ha­meha Schools said the trust is selling "Block H," which now houses a Jaguar/Land Rover dealership and an Office Max, and "Block I," with a Cutter Mazda dealership, on Ala Moana Boulevard just Diamond Head of Cooke Street.

Sales should start in fall 2015 if the proj­ects are approved by the Hawaii Community Development Authority, which oversees the redevelopment of Kakaako.

The projects will include retail space on the street level, said the Kame­ha­meha Schools spokes­man, who asked not to be identified by name because the proj­ects have not been officially announced.

Kamehameha Schools’ master plan for Kaka­ako calls for building seven mixed-use residential and retail towers, including three luxury towers on Ala Moana Boulevard — the two by MK Development and a third on the block just Ewa of Cooke Street. Kame­ha­meha Schools has not said who will be developing the third luxury tower.

The seven towers will add an estimated 2,750 units, including some rental units and some fee-simple units reserved for middle-income families. The towers will also have 300,000 square feet of commercial space.

Kame­ha­meha Schools, Hawaii’s largest private landowner, is a private trust that uses its money to educate students of Hawaiian ancestry.

Previously, Kame­ha­meha Schools announced plans for three other Kakaako sites:

» Hono­lulu developer Stanford Carr will build a $300 million residential proj­ect that will include a 40-story high-rise tower at 555 South St., currently an open parking area kitty-corner from Restaurant Row, as well as low-rise townhomes, live-work units, rental apartments and retail space.

» Alexander & Baldwin Inc. is developing the former site of a Comp­­­USA store at the makai end of South Street from the trust and proposing a tower and low-rise buildings with 470 condominiums called The Collection.

» Kamehameha Schools is developing a retail complex dubbed SALT by renovating old buildings on a block adjacent to The Collection.