Will Ferrell is in talks to topline and David Dobkin is in negotiations to direct the comedy “Neighborhood Watch” at 20th Century Fox.

Story chronicles an urbanite’s journey as he moves to a suburban community, joins the neighborhood watch and uncovers a large conspiracy. Jared Stern wrote the screenplay.

Shawn Levy, who had been eyeing the project as a helming vehicle, will produce with Tom McNulty through their Fox-based 21 Laps shingle. The banner’s Billy Rosenberg, who is shepherding the project, will serve in a producing capacity.

Dobkin, who most recently helmed “Fred Claus,” directed the box office hit “Wedding Crashers,” in which Ferrell made a cameo appearance.

Ferrell will next be seen in Universal’s “Land of the Lost.”

Dobkin and Ferrell are repped by CAA.