The director may reteam with Thirteen star Rachel Evan Wood on the erotic thriller, according to The Hollywood Reporter.
Red Riding Hood director Hardwicke wrote the script with Artie Nelson.
Hardwicke and Wood's original 2003 collaboration was controversial for its portrayal of teenage sex and drug use. The actress was only 13 at the time of shooting.
Wood was nominated for the 'Best Actress - Drama' Golden Globe for her role in Thirteen, but lost out to Charlize Theron (Monster).
Hardwicke is also known for directing the original Twilight movie and The Nativity Story, starring Whale Rider actress Keisha Castle-Hughes.
Wood most recently starred in The Ides of March opposite George Clooney and Ryan Gosling.
Shooting on Plush is due to begin on February 9.
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