Greg Tidwell/Pacific Coast News
David Arquette's latest project is finally about to come full circle.
star was recently spotted overseeing the completion of his new nightclub, Bootsy Bellows, which is set for a June 29 grand opening in West Hollywood.
"David looked really good and looked like he was in good health," a source tells PEOPLE of the actor, who was seen standing in the new venue's doorway. "He didn't look as skinny as before. He looked like he'd put on a few healthy pounds."
Adds the insider, "At one point, a random person walked by and yelled, 'Lookin' good,' at David."
Of the venue, also co-owned by h.wood group's John Terzian, the source describes it as having "a funky vibe inside."
Taking over the space of former hotspot Trousdale
, the spot was frequented by Ryan Phillippe
, Ashley Greene
, Derek Hough and stars of The Hills
– Dahvi Shira