In the process of gutting the five-bedroom, 7,493-square-foot mansion she purchased just north of Beverly Hills off the famed Mulholland Drive, Paris is turning her basement into a private nightclub. It’ll have its own entrance and will hold 200 people! “My house is so big. I love it,” Paris tells In Touch. “It’s going to look so good when it’s done.” A friend says Paris wants the nightclub to “look like a Parisian speakeasy, with lots of gold fixtures and black furniture.” Adds another pal, “Obviously, it’s going to be very VIP.” Paris, 27, is also adding a professional quality recording studio to the home’s floor plan. Says the first pal: “As soon as the construction is finished in about four weeks, she plans to start recording her second album there.”