Stamford Downtown 2014
Demographic Profile
Stamford Downtown 2014 Demographic Profile Table of Contents page(s)
Population Profile......................................................
2-4
Daytime Population…………………………………………………..
5
Business Employment & Corporate Profile………………..
6-7
Office Market Profile…………………………………………………
8-9
Retail Profile……………………………………………………………..
10-11
Economic Generators: Dining, Entertainment & Hotels….....
12-13
Residential Profile……………………………………………………..
14-15
Stamford Downtown Special Services District…………… (DSSD)
16
In 2014, Stamford was ranked the #1 place to live in CT by movoto.com! Source: http://www.movoto.com/ct/best-places-in-connecticut/
Map provided by The Nielsen Company (Site Report 2014) – 1, 3 & 5 mile Trade area rings from center of Stamford Downtown
Stamford Population Profile
Outdoor dining on Bedford Street
In the last decade 2000-2010, Stamford’s population grew by 4.75% (5,560 people) outpacing Fairfield County’s growth of 3.88% (34,262 people).
Estimated 2014
1 mile
3 miles
5 miles
10 miles
Population
44,261
128,152
173,889
371,113
Avg. Household Income
$81,957
$111,767
$127,117
$139,179
Note: Trade area rings start at the corner of Atlantic Street & Broad Street in Stamford Downtown.
Driving Times from Stamford Downtown Shoppers at the Stamford Downtown Farmer’s Market
•50 minutes- New York City •90 minutes- Hartford, CT
•17 minutes- Westchester Airport, White Plains, NY •45 minutes- New Haven, CT
2014 Education Attainment (Age 25+) 5 Mile Radius
Dining and mingling on Lower Summer Street
Source: CoStar Report 2014
Advanced Degree
23.08%
Bachelor’s Degree
26.86%
Associate’s Degree/Some College
22.21%
High School Diploma or GED
17.66%
High School Non-graduates
10.19%
49.94%
2
Stamford Population Profile 2014 Est. Median Age: (1 mile Radius)
35
2014 Est. Population by Sex (5 mile Radius)
Male
48.36%
Female
51.64%
Lunch at Bedford Street outdoor patio
Fernando Luis Alvarez Gallery
2014 Estimated Age Distribution (Numbers and Percentages): 1 mile
Diners enjoying happy hour on Bedford Street
Source: CoStar Report 2014
3 miles
5 miles
0-4
3,419
7.72%
8,708
6.80%
11,065
6.36%
5-19
6,761
15.27%
24,194
18.89%
34,389
19.77%
20-24
2,417
5.46%
6,949
5.42%
9,467
5.44%
25-44
17,598
39.75%
38,881
30.33%
47,445
27.29%
45-64
8,379
21.18%
32,703
25.51%
46,754
26.89%
65+
4,688
10.59%
16,718
13.05%
24,769
14.24%
3
Stamford Downtown Population Profile According to a survey of the approximately 20,000 individuals living in Stamford Downtown, the typical Stamford Downtown Resident is:
Young:
65% of households in the Downtown have someone 18-34, while 62% have none 35 or older.
Affluent:
$108,000 is the median income for Downtown residents (as compared to $69,000 in-state, $82,500 in Fairfield County and $78,200 in the city).
Smart:
90% of households have someone with a college or advanced degree.
Employed: 83% of Downtown households have someone who works, 52% in the city or Downtown and 83% within 15 miles of home. 16% work in NYC.
Source: Witan Intelligence (6/2013)
4
Daytime Population
2014 Est. Pop 16+ by Occupation Classification (5 Mile Radius) 16.76%
Daytime Employees in Stamford Downtown
69.83%
White Collar Blue Collar
1 mile radius 5 mile radius
59,150 109,005
Service 13.51% Source: CoStar Report 2014 Source: The Nielsen Company, Site Report 2014
Students University of Connecticut, Stamford Located in the heart of Stamford Downtown • Total Undergraduate Enrollment as of Spring 2013: 1,270 • Total Graduate Enrollment as of Spring 2013: 450 • Total Faculty and Staff: 174
Sacred Heart University, Graduate Center • Total Graduate Enrollment as of Fall 2013: 158 • Total Faculty and Staff: 15 Source: UConn Stamford 2013 & Sacred Heart University 2013 UConn, Stamford in the heart of Stamford Downtown
2012 Metro North Weekday Ridership Weekday Inbound Outbound
9,243 4,729
Total
13,972
Weekend Inbound Outbound
8,482 3,395
Total Stamford Transportation Center
11,877 Source: Metro North Operations 2013
5
Business Employment & Corporate Profile Business Sectors in Stamford Downtown (1 Mile Radius) Health Care & Social Assistance 25%
Retail 13%
Finance-Insurance-Real Estate 15%
Hospitality & Food Service 6%
Other 8%
Manufacturing 2% Construction 6%
Scientific & Technology Services 25%
Total Number of Businesses (1 mile radius):
5,744
Source: CoStar 2014
6
Business Employment & Corporate Profile 2014 Top Stamford Employers RBS
2,300
Stamford Hospital
2,195
UBS
2,000
Stamford Town Center
2,000
City of Stamford: City Government
1,501
City of Stamford: Board of Education
1,495
General Electric Capital Corporation
1,043
US Postal Service
900
Starwood Hotels
900
Gartner Group
860
GenRe Corporation
800
Deloitte & Touche
800
Point72 Asset Management
685
Purdue Pharma
600
NBC Sports
600
Pitney Bowes
550
PricewaterhouseCoopers
500
Nestle Waters North America
500
Oracle Corp./Hyperion Solutions
440
WWE
400
Conair Corporation
350
0
500
1,000
1,500
2,000
2,500
Source: Fairfield County Business Council
7
Office Market Profile Central Business District Office Space: Class A & B Existing: 53 Buildings - 9,790,000 sf Projected: Metro Transit Center Gateway
600,000 sf 323,000 sf
CBD Class A Office- 2nd Quarter 2014 Number of Buildings:
33
Total Square Footage:
8,281,979 sf
Combined Available Space:
2,249,170 sf*
Availability Rate:
27.16%
Average Asking Rent:
$47.51/sf
CBD Class B Office- 2nd Quarter 2014 Recent Sales in Stamford 11/2012 3/2013 9/2013
667 E. Main St. 9 W. Broad St. 300 Main St.
Number of Buildings:
Total Square Footage: 161,500 SF $13.5 MM ($83.59 psf) 200,000 SF $14.5 MM ($72.50 psf) Combined Available Space: 80,708 SF $13.2 MM ($163.00 psf) Availability Rate: Average Asking Rent:
Source: CBRE Inc. Fairfield County Statistical Report
20 1,508,584 sf 408,441sf* 27.07% $29.56/sf
* Includes direct and sublease office space
8
Office Market Profile
Existing Buildings Over 100,000 sf
300 Atlantic Street
Class A
272,400 sf
400 Atlantic Square
Class A
472,687 sf
177 Broad Street
Class A
187,000 sf
9 W. Broad Street
Class B
201,000 sf
Canterbury Green
224,400 sf
695 East Main Street (Former GenRe)
Class A
581,765 sf
750 East Main Street
Class A
103,367 sf
Landmark Square
Class A
766,861 sf
1 Stamford Forum (Purdue Pharma)
513,500 sf
1,2,3,4 Stamford Plaza
967,802 sf
1 Station Place
Class A
600 Summer Street
101,070 sf
600 Washington Blvd
574,831 sf
677 Washington Blvd (UBS Phase 1)
Class A
686,332 sf
680 Washington Blvd
Class A
133,000 sf
750 Washington Blvd
Class A
186,148 sf
888 Washington Blvd (Government Center)
300 Atlantic Street
280,074 sf
230,000 sf
1010 Washington Blvd
Class A
135,000 sf
1055 Washington Blvd
Class A
178,000 sf
Projected Buildings Over 100,000sf Source: Cushman & Wakefield Research Services
Metro Tower
350,000 sf
Gateway
323,000 sf
9
Retail Profile Total CBD Retail Square Footage: 1,754,922 sf 2014 Stamford Downtown Retail Occupancy
Downtown Retail
95%
Stamford Town Center
768,000 sf
Downtown Retail Streets
986,922 sf
Total
1,754,922 sf Sources: DSSD & Taubman Company
Stamford Downtown Anchors Macy’s
225,000 sf
Target
164,000 sf
Burlington Coat Factory
123,000 sf
Safavieh
85,000 sf
Barnes & Noble
40,000 sf
Apple
10,000 sf
Home Improvement Stores 2%
General Merchandise Stores 3%
Retail Sector in Stamford Downtown
Miscellaneous 22%
Auto Dealers and Gas Stations 6%
Food Stores 10%
Apparel and Acessory Stores 14% Furniture and Home Furnishings 10%
Eating and Drinking Places 33%
Source: CoStar Report (2014)
10
Retail Profile
The Bridal Suite
Stamford Town Center
Burlington Coat Factory
2014 Total Annual Consumer Spending Health Care 4%
Education/Day Care 8% Apparel 6%
Entertainment 8%
Food at Home 16%
Transportation/Maintena nce 29%
Food Away from Home 12% Furniture/Appliances 15%
Alcoholic Beverages 2%
Source: CoStar Report (2014)
11
Economic Generators: Dining & Entertainment According to national research organization, America for the Arts, theatre attendees spend an average of $23 per person before or after visiting the theatre.
Annual Attendance 960,000
Movie Theater Attendees (Bowtie Cinemas & Avon Theater Film Center)
350,000
Downtown Special Events
80,000
Stamford Media Center Attendees (NBC Universal)
43,782
Palace Theater Attendees Sources: Avon Theatre & Stamford Center for the Arts
Avon Theatre on Bedford Street
Dining and Mingling on Main St.
12
Economic Generators: Hotels (2,168 Rooms) Downtown Courtyard by Marriott Stamford Downtown 275 Summer Street 115 guest rooms 2 meeting Rooms (largest holds 40 seats) 1 restaurant on Site Sheraton Stamford Downtown 700 East Main Street 375 guest rooms 16 meeting rooms—largest 4,500 sq. ft. 1 restaurant Hotel Zero Degrees 909 Washington Boulevard 97 guest rooms large conference room—fully equipped w/AV Stamford Marriott Hotel & Spa 243 Tresser Boulevard 500 guest rooms 23 meeting rooms—largest 9,000 sq. ft. 2 restaurants
Stamford Marriott Hotel & Spa on Tresser Boulevard
Courtyard by Marriott Stamford Downtown on Summer Street
Nearby Hampton Inn & Suites Stamford 26 Mill River Street 99 guest rooms 4 meeting rooms—largest 2,150 sq. ft. 1 restaurant Hilton Stamford Hotel and Executive Meeting Center 1 First Stamford Place 484 guest rooms 30 meeting Rooms—largest 10,000 sq. ft. 1 restaurant Stamford Plaza Hotel & Conference Center 2701 Summer Street 448 guest rooms 33 meeting Rooms—largest 9080 sq. ft. 1 restaurant Stamford Suites Hotel 720 Bedford Street 45 extended stay suites
Planned Residence Inn by Marriott 35 Atlantic Street 131 guest rooms Expected completion 2015
13
Residential Profile Average Residential Sales Prices: Citywide & Downtown
Average Sales Price
$900,000 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $0
2007
2008
2009
2010
2011
2012
Citywide Single Family
$853,692
$739,840
$665,153
$707,933
651,147
$654,645
Citywide Condominium
$409,081
$378,930
$338,526
$339,975
306,332
$276,028
Downtown Single Family
$386,101
$595,485
$495,770
$530,961
493,486
$482,196
Downtown Condominium
$461,878
$349,258
$291,725
$330,236
271,239
$324,224
Source: William Pitt Sotheby’s International Realty
Recent Sales in Stamford 8/2014 9/2014
2014 Est. Households 2014 Est. Avg. Household Size
75 Tresser Glenview House
$121 MM $69.1 MM
1 mile
3 miles
5 miles
10 miles
15 miles
18,578
49,020
68,221
137,420
292,800
2.30
2.60
2.60
2.65
2.69
Source: CoStar Report (2014)
14
Residential Profile Apartments & Condominiums Within a ¼ mile radius of Stamford Downtown Pre-1996 The Classic - 25 Forest Street Canterbury Green- 201 Broad Street The Biltmore - 127 Greyrock Place Parc Grove - 200 Broad Street Stamford Corners - 1455 Washington Boulevard The Westcott - Washington Blvd. Park Square West: Phase 1 - 101 Summer Street Archstone- Bedford &North Avalon at Greyrock Place - 50 Forest Mill River House - 35 West Broad Street Adams Mill River House- 25 Adams Metropolitan - 1515 Summer Street Glenview House - 25 Glenbrook Road Eastside Commons - 840 East Main Street 100 Prospect Street 11 Forest Street Trump Parc - 7 Broad Street The Blvd. - 1201 Washington Boulevard Parallel 41 - 1340 Washington Boulevard 65 Prospect 77 Prospect Cornerstone at Bedford - 1425 Bedford Street Hoyt Bedford - 112 Hoyt Street Village at Stamford - 500 Bedford Street Morgan Manor - 83-95 Morgan Street Highgrove - 70 Forest Street The Moderne – 163 Franklin Street 75 Tresser – 75 Tresser Boulevard The Verano – 750 Summer Street SUBTOTALS: Cumulative Total: A: apartments Source: DSSD C: condos
Basis as 1997of 1996 2013 1,600 144 106 161
2,011
401 195 280 143 160 306 92 60 51 142 108 94 16 166 94 124 127 143 368 352 160 243 92 58 344 58 4,377 6,388
Facility A +C C C A +C A +C A +C A A A A A C A A C A A A +C A A A A A A A A A A A A
Trump Parc on Washington Boulevard at Broad Street
Under Construction/Planned Within a 1 mile radius of Stamford Downtown
2014-16 Units
The Summer House
226
25 Bank Street
15
Atlantic Station (Cappelli)
650
Park Square W. Phase II (at 66 Summer St.) and IV
416
New Inventory Totals:
Proposed Within a 1 mile radius of Stamford Downtown
1066
2014-16 Units
Bedford Hall (F.D. Rich)
110
Parcel 38 (F.D. Rich)
672
Rippowam Place (RMS)
122
Morgan Lofts
175
New Inventory Totals:
1097
15
Stamford Downtown Special Services District
The Stamford Downtown Special Services District (DSSD) brings 350,000 people Downtown annually through its 16 events which include the UBS Parade Spectacular (far left), Alive @ Five (center) and its famous outdoor sculpture exhibit (right).
Promoting a Safe, Clean & Green Downtown
A central component of the DSSD mission is to provide an inviting Downtown environment 16 thorough Ambassador, Landscaping and Cleaning Services.