The location is one of four to open in the region as part of the company's effort to open 500 locations across the U.S. over the next five years. The expansion effort is being supported by BlackRock's Impact Opportunities Fund and James Collins, managing partner of Eastwood Capital Partners.
"This investment is the largest development deal in the history of the company. More importantly, we are proud that it is about making a significant difference and giving back to Black and Brown communities," Retro Fitness CEO Andrew Alfano said in a press release.
Ownership said the Richardson gym will slowly upgrade new gym facilities throughout the first few months of 2023. Previous gym memberships will be honored at the existing price.
Three other You Fit gyms that have become Retro Fitness locations are in Dallas, Garland and Mesquite.
www.retrofitness.com/location/richardson
