Stamford Downtown www.Stamford-Downtown.com
2015 Demographic Profile
Stamford Downtown 2015 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
According to the U.S. Census update, between 2010 and 2015, Connecticut’s population increased by about 22,000 people—and 25% of that increase happened in Stamford.
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+)
Dining and mingling on Lower Summer Street Source: CoStar Demographic Report 2015 Source: http://www.stamfordadvocate.com/
1 mile
3 mile
5 mile
Advanced Degree
15.13%
19.88%
23.08%
Bachelor’s Degree
22.28%
24.89%
26.86%
Associate’s Degree/Some College
21.92%
23.31%
22.21%
High School Diploma or GED
21.30%
19.59%
17.66%
High School Non-graduates
19.37%
12.34%
10.19%
49.94%
2
Stamford Population Profile 2014 Est. Median Age: (1 mile Radius)
35
2014 Est. Population by Sex 1 mile
3 miles
5 miles
Male
49.32%
48.74%
48.36%
Female
50.68%
51.26%
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 in Columbus Park
Source: CoStar Demographic Report 2015
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 of Stamford ). 90% of households have someone with a college or advanced degree.
Smart:
Employed: 83% of Downtown households have someone who works, 52% in the City of Stamford or Downtown and 83% within 15 miles of home. 16% work in NYC.
Source: Witan Intelligence (6/2013)
4
Daytime Population 25,000 vehicles per day pass thru the intersection of Atlantic/Broad/and Bedford
Daytime Employees in Stamford Downtown 1 mile radius
5 mile radius
59,150 109,005 Source: CoStar Daytime Employment Report 2015
Students University of Connecticut, Stamford Located in the heart of Stamford Downtown • Total Undergraduate Enrollment as of Fall 2014: 1,635 • Total Graduate Enrollment as of Fall 2014: 465 • Total Faculty and Staff: 152
Sacred Heart University, Graduate Center • Total Graduate Enrollment as of Fall 2014: 158 • Total Faculty and Staff: 15 Source: UConn Stamford 2014 & Sacred Heart University 2014 UConn, Stamford in the heart of Stamford Downtown
Metro North Weekday Ridership Weekday Inbound Outbound
9,243 4,729
Total
13,972
Weekend Inbound Outbound Stamford Transportation Center
8,482 3,395
Total
11,877 Source: Metro North Operations Report 2013
5
Business Employment & Corporate Profile Business Sectors in Stamford Downtown (1 Mile Radius) Retail 13% Finance-Insurance-Real Estate 15%
Health Care & Social Assistance 25%
Hospitality & Food Service 6% Scientific & Technology Services 25%
Other 8% Manufacturing 2% Construction 6%
Total Number of Businesses (1 mile radius):
5,744
Source: CoStar Daytime Employment Report 2015
6
Business Employment & Corporate Profile 2015 Top Stamford Employers Stamford Hospital UBS Stamford Town Center RBS City of Stamford: City Government City of Stamford: Board of Education Deloitte General Electric Capital Corporation Starwood Hotels US Postal Service GenRe Corporation Point72 Asset Management Gartner Group XL Reinsurance Purdue Pharma NBC Sports Pitney Bowes PricewaterhouseCoopers Nestle Waters North America Affinion Group Oracle Corp./Hyperion Solutions WWE Conair Corporation Omega Engineering Daymon Worldwide Thomson Reuters Corporation NBCUniversal Synapse Group Ernst & Young Elizabeth Arden Chelsea Piers CT Odyssey Re KPMG LLC 0
500
1,000
1,500
2,000
2,500
3,000
Source: The Business Council of Fairfield County
7
Office Market Profile Central Business District Office Space: Class A & B Existing: 53 Buildings - 9,755,855 sf Projected: Metro Transit Center Gateway
600,000 sf 323,000 sf
CBD Class A Office- 1st Quarter 2015 Number of Buildings:
34
Total Square Footage:
8,330,271 sf
Combined Available Space:
2,252,710 sf*
Availability Rate:
27.04%
Average Asking Rent:
$46.52/sf
CBD Class B Office- 1st Quarter 2015 Recent Sales in Stamford 3/2013 5/2013 9/2013 4/2014 1/2015
9 West Broad St. 900 Bedford St. 300 Main St. 84 West Park Pl. 600 Summer St.
185,376 SF 12,360 SF 92,157 SF 35,384 SF 101,060 SF
Source: City of Stamford Tax Assessor’s Office
$14.5 MM ($78.21 psf) $2.3 MM ($186.08 psf) $13.5 MM ($146.49 psf) $6.7 MM ($188.64 psf) $10.65MM ($105.00 psf)
Number of Buildings:
19
Total Square Footage:
1,425,584 sf
Combined Available Space:
386,485 sf*
Availability Rate:
27.11%
Average Asking Rent:
$32.74/sf
* Includes direct and sublease office space Source: CBRE Inc. Fairfield County Statistic Report
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 2015 Stamford Downtown Retail Occupancy
95.3%*
Downtown Retail Stamford Town Center
768,000 sf
Downtown Retail Streets
986,922 sf
Total
1,754,922 sf Sources: DSSD & Taubman Company
Retail Sector in Stamford Downtown Stamford Downtown Anchors Macy’s
225,000 sf
Target
164,000 sf
Burlington Coat Factory
General Merchandise Stores 3%
Home Improvement Stores 2% Miscellaneous 22%
123,000 sf
Safavieh
85,000 sf
Barnes & Noble
40,000 sf
Apple
10,000 sf
Eating and Drinking Places 33%
Food Stores 10%
Auto Dealers and Gas Stations 6%
Apparel and Acessory Stores 14% Furniture and Home Furnishings 10%
*Not Including Stamford Town Center Occupancy Rate
Source: CoStar Demographic Report (2015)
10
Retail Profile
Trends in Retail Rental Rates
Stamford Town Center
2014 Total Annual Consumer Spending Education/Day Care 8% Health Care 4%
Apparel 6%
Transportation/ Maintenance 29%
Furniture/Appliances 15%
Source: CoStar Retail Spending Report (2015)
Entertainment 8%
70%
2014 Retail Sales Potential vs. Actual Sales
60% 50% 40% 30%
Food at Home 16% Food Away from Home 12%
Alcoholic Beverages 2%
20% 10% 0%
Retail Potential
Retail Sales
Source: CBRE Inc. Fairfield County Statistic Report
11
Economic Generators: Dining & Entertainment According to America for the Arts, a national research organization, 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)
45,200
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 (2,163 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
Under Construction Residence Inn by Marriott 35 Atlantic Street 131 guest rooms Expected completion 2016
13
Residential Profile
Source: Juner William Pitt Sotheby’s International Realty
Recent Residential Complex Sales in Stamford 8/2014 9/2014
2014 Est. Households
2014 Est. Avg. Household Size
75 Tresser Glenview House
$121.0 MM $69.1 MM
1 mile
3 miles
5 miles
10 miles
15 miles
18,578
49,020
65,730
137,420
292,800
2.30
2.60
2.60
2.65
2.69
Source: CoStar Demographic Report (2015)
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 66 Summer – 66 Summer Street SUBTOTALS: Cumulative Total: A: apartments Source: DSSD C: condos
Basis as 1997of 1996 2015 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 58 209 4,586 6,597
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 A
Trump Parc on Washington Boulevard at Broad Street
Under Construction Within a 1 mile radius of Stamford Downtown
2015-16 Units
The Summer House
222
Park Square West Phase IV
209
Rippowam Place (Washington Blvd. & Rippowam Pl.)
118
Morgan Lofts
175
Bedford Hall
82
New Inventory Totals: Planned with Land Use Approvals Within a 1 mile radius of Stamford Downtown
806 2015-16 Units
Urban Ready Living (Parcel 38)
672
Atlantic Station (Post Office Site)
650
New Inventory Totals:
1,322
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.