Renderings have been released for a private Los Angeles arts club on Sunset Boulevard reportedly being developed by Gwyneth Paltrow.

According to several media outlets in Hollywood, the Oscar-winning actor and lifestyle coach is backing the project with her business partner Gary Landesberg. The facility, which is being developed on the site of erotic boutique Hustler, will be an extension of The Arts Club in London – where Paltrow is an advisory board member and Landesberg is chairman.

Information about the LA project, which is in the development stage, has been released by the City of West Hollywood. Plans show that the 132,000sq ft (12,260sq m), nine-storey building will house a Japanese/Latino restaurant, a sake and tequila bar, lounges, dining terraces, screening rooms, a gym and wellness space and a rooftop garden and pool. In addition, there will be 15 guest rooms for members and a helipad.

US architects Gensler have designed a plant-covered building with perforated metal fins and decorative glass panels which restrict views into the exclusive club.

The Arts Club in London was founded in 1863 “for the purpose of facilitating the social intercourse of persons connected with or interested in art, literature or science.”

The club has a joining fee of £2,000 (US$2,800, €2,500) on top of an annual £2,000 subscription and members must follow a comprehensive set of rules. Swearing and gambling are forbidden and guests must remain “stylish and well turned out” – with “elegant hats permitted within reason.”

Alongside Paltrow, a host of celebrities from the world of art and culture are listed as advisors to the club’s board, including architect David Adjaye, choreographer Matthew Bourne, poet Carol Ann Duffy, ballerina Darcy Bussell, filmmaker Anton Corbijn, fashion designer Stella McCartney and author Jill Shaw Ruddock.