National real estate development firm Hawkins Companies bought a 3.83-acre parcel of land at the northwest corner of Scottsdale and East McDowell roads in South Scottsdale for $7,400,000, according to the commercial real estate tracking website Vizzda. The seller was Cercidium Holdings.

Hawkins plans to use the land to develop a four-story, mixed-use project called Southdale, which gets its name from renowned architect Ralph Haver’s first residential subdivision. The project is planned to include a 267-unit multifamily residential component in two four-story buildings, with 4,400 square feet of commercial space (3,300 square feet of office and 1,100 square feet of retail).

Hawkins Companies is a commercial real estate, property development and management company based in Boise, Id., with properties spanning across 23 states.