A Dallas, Texas, based real estate firm is nearing a deal to purchase a majority stake in Mile High Marina in McCall.
The deal between the marina’s current majority owners, McCall residents Sam and Kelly Worley, and Resilient Capital Partners (RCP) is expected to be finalized within about a month, members of the McCall City Council were recently told.
The council will be asked to approve the reassignment of a lease for city property on which the marina operates to RCP, McCall Community and Economic Development Director Michelle Groenevelt said.
Sam Worley declined to reveal the sales price or the resulting ownership stakes to Valley Lookout, but said it was necessary to fund a recently approved project to install a new breakwater around the marina and add an additional 90 boat slips to it.
“It was recognized as a possibility and disclosed to city staff prior to the commencement of the CUP process,” Worley said.
The project, which does not yet have a timeline for construction to begin, is estimated to cost $3 million.
Worley, who would retain a minority ownership stake in the marina if the sale is completed, does not expect any changes to the marina’s operations. The Worleys have been part of the marina’s ownership group since 2004.
“RCP’s only business is the acquisition and management of marinas. They have invaluable experience in the ownership and management of marinas and the management of capital improvement projects,” he said. “They have done intensive due diligence and fully understand the important role of the Marina in McCall and the issues which were of concern to the Council in the CUP Process. If the transaction closes, they will be a great partner and community participant.”
Who is RCP?
RCP was founded in 2020 by Johnny Powers and Brucker Stensrud, who have nearly 50 years of combined experience in marina management and acquisitions, according to RCP’s website.
Powers, Stensrud, and David Henry, the firm’s managing partner, each have backgrounds at Suntex Marinas, another Texas firm that owns 72 marinas in 15 states.
Powers founded Suntex in 2015 and currently serves on the company’s board of directors.
Suntex was involved in over $2 billion in merger and acquisition transactions during the trio’s time with the company. Powers had not responded to a voicemail left by Valley Lookout at the time of this publication.
Expansion project
As BoiseDev previously reported, The marina expansion project was first proposed in 2021 and approved on a 3-2 vote last year by the city council. Once complete, the expansion will add about 90 new boat slips to the 165-slip marina at 1300 E. Lake St. in downtown McCall.
An existing log breakwater will be replaced with a new breakwater system attached to 1,100 feet of floating public boardwalk surrounding the marina as part of the project.
The public boardwalk breakwater system would start on the north side of the marina, extend 617 feet into the lake, and then run 510 feet south to the marina’s southern boundary.
Two 30-foot by 30-foot public viewpoints would be included on the part of the dock system furthest from the shore. The boardwalk would otherwise be 10 feet wide. It would not be lighted and would close at dusk.
The expansion was recommended for approval by the McCall Area Planning and Zoning Commission and supported by the McCall Parks and Recreation Department, which developed plans for the boardwalk alongside Worley.
The marina’s proposal also needed approval from the Idaho Department of Lands, which has jurisdiction over lands submerged by water. That approval was granted in 2023.
The city lease on which the marina operates was initially established in April 1969. The initial lease rate was $1 per year. A.R. Krigbaum and James Hardy subsequently built and opened Sports Marina—the first name for what eventually became Mile High Marina.
The marina now pays 4% of annual revenue from boat slips to the city for the lease. In 2025, the city expects to earn a total of $36,000 from the lease with the marina and a similar lease held by the Garnet Beach Homeowners Association.
