Stamford Downtown www.Stamford-Downtown.com
2016-2017 Demographic Profile
Stamford Downtown 2016 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 2016, Stamford was ranked the #3 in the nation for highest % increase in new apartments!
Map provided by The Nielsen Company (Site Report) – 1, 3 & 5 mile Trade area rings from center of Stamford Downtown
Source: COSTAR Group
1
Stamford Population Profile
Shoppers at the Stamford Downtown Farmer’s Market
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 2016
1 mile
3 miles
5 miles
Population
46,158
131,617
177,052
Avg. Household Income
$89,536
$119,149
$135,201
Note: Trade area rings start at the corner of Atlantic Street & Broad Street in Stamford Downtown.
Driving Times from Stamford Downtown Dining and mingling on Lower Summer Street
•50 minutes- New York City •90 minutes- Hartford, CT
•17 minutes- Westchester Airport, White Plains, NY •45 minutes- New Haven, CT
2016 Education Attainment (Age 25+)
Outdoor dining on Bedford Street
Source: CoStar Demographic Report 2016 Source: http://www.stamfordadvocate.com/
1 mile
3 mile
5 mile
Advanced Degree
14.06%
19.05%
22.25%
Bachelor’s Degree
22.18%
25.00%
27.12%
Associate’s Degree/Some College
23.71%
23.86%
22.56%
High School Diploma or GED
22.04%
20.09%
18.14%
High School Non-graduates
18.01%
12.00%
9.93%
49.37%
2
Stamford Population Profile 2016 Est. Median Age: (1 mile Radius)
35
2016 Est. Population by Sex Male
1 mile
3 miles
5 miles
49.32%
48.74%
48.36% Lunch at Bedford Street outdoor patio
Female
50.68%
51.26%
Fernando Luis Alvarez Gallery
51.64%
2016 Estimated Age Distribution (Numbers and Percentages): 1 mile
3 miles
5 miles
0-4
3,350
7.56%
8,543
6.59%
10,852
6.19%
5-19
7,113
16.06%
24,957
19.25%
35,082
20.02%
20-24
2,280
5.15%
7,047
5.44%
9,745
5.56%
25-44
17,278
38.99%
38,776
29.90%
47,377
27.04%
45-64
9,588
21.63%
33,382
25.75%
47,307
26.98%
65+
4,700
10.61%
16,946
13.07%
24,919
14.22%
Diners enjoying happy hour in Columbus Park
Source: CoStar Demographic Report 2016
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). 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 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
62,054 109,005 Source: CoStar Daytime Employment Report 2016
Students University of Connecticut, Stamford Located in the heart of Stamford Downtown • Total Undergraduate Enrollment as of Spring 2016: 1,635 • Total Graduate Enrollment as of Spring 2016: 465 • Total Faculty and Staff: 152
Sacred Heart University, Graduate Center • Total Graduate Enrollment as of Spring 2016: 158 • Total Faculty and Staff: 15 Source: UConn Stamford 2015 & Sacred Heart University 2015 UConn, Stamford in the heart of Stamford Downtown
Metro North Weekday Ridership Weekday Inbound Outbound
9,280 5,447
Total
14,727
Weekend Inbound Outbound
8,637 3,395
Total Stamford Transportation Center
12,032 Source: Metro North Operations Report 2015
5
Business Employment & Corporate Profile BUSINESS SECTORS IN STAMFORD DOWNTOWN Utitlties & Waste Management‌
Construction 5%
Scientific & Technology Services 20%
Finance & Insurance 9% Health Care & Social Assistance 22%
Retail & Wholesale Trade 13% Real Estate, Renting, Leasing 5% Public Administration & Sales 2%
Total Number of Businesses (1 mile radius):
6,017
Other Services 10%
Hospitality & Food Service Information 5% 2% Manufacturing 2%
Source: CoStar Daytime Employment Report 2016
6
Business Employment & Corporate Profile 2016 Top Stamford Employers Stamford Town Center Stamford Hospital Starwood Hotels & Resorts Worldwide, Inc. UBS RBS Deloitte General Re Corporation Gartner Inc. XL Reinsurance Indeed.com NBC Sports Purdue Pharma LP Pitney Bowes Point 72 Nestle Waters North Amercia PricewaterhouseCoopers Affinion Group Conair Corporation Oracle Corp./Hyperion Solutions WWE Synchrony Financial Daymon Worldwide NBC Universal (Studio Shows) Elizabeth Arden Ernst & Young Synapse Group Odyssey Re KPMG LLP *Charter Communications Encompass Digital Media Genworth Financial Towers Watson Vineyard Vines Novitex Fuji Medical Systems AmeriCares Northwestern Mutual-Stamford Tronox Thomson Reuters Corporation
0 Source: The Business Council of Fairfield County
500
1,000
1,500
2,000
* Pending employee growth from Time Warner merger.
2,500 7
Office Market Profile Central Business District Office Space: Class A & B Existing: 53 Buildings - 9,742,804 sf
Purdue Pharma, 1 Stamford Forum on Tresser Boulevard
CBD Class A & B Office – 3rd Quarter 2016
RBS, 600 Washington Boulevard
Recent Office Sales in Stamford 2015-2016:
Total Inventory:
9,742,804 sf
Total Available:
3,084,412 sf
Availability Rate:
31.7%
Vacancy Rate:
21.5%
1290 Summer St.
41,000 sf
$12.0 MM ($292.00 psf)
Net Absorption:
(791,508 sf)
201 High Ridge Rd.
200,000 sf
$17.0 MM ($85.00 psf)
Leasing Activity:
57,180 sf
110 Prospect St.
7,996 sf
$1.02 MM ($105.37 psf)
Average Asking Rent:
$43.41/sf
750 East Main St.
97,197 sf
$8.1 MM ($83.33 psf) Source: CBRE Inc. Fairfield County Statistic Report
600 Summer St.
101,070 sf
$10.65 MM ($105.37 psf)
Source: City of Stamford Tax Assessor’s Office
8
Office Market Profile 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
Class A
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)
Class A
513,500 sf
1,2,3,4 Stamford Plaza
Class A
967,802 sf
1 Station Place
Class A
280,074 sf
600 Summer Street
Class B
101,070 sf
600 Washington Blvd
Class A
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)
230,000 sf
1010 Washington Blvd
Class A
135,000 sf
1055 Washington Blvd
Class A
178,000 sf 300 Atlantic Street
9 Source: Cushman & Wakefield Research Services
Retail Profile Total CBD Retail Square Footage: 1,754,922 sf 2016 Stamford Downtown Retail Occupancy
92.5%*
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
Saks Fifth Ave. Off Fifth
78,000 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%
Source: CoStar Demographic Report (2016)
*Not Including Stamford Town Center Occupancy Rate
10
Retail Profile 2016 Total Annual Consumer Spending Education/Day Care 8% Health Care 4%
Entertainment 8%
Stamford Town Center
Apparel 6%
Retail Sales Potential vs. Actual Sales Food at Home 16%
Transportation/ Maintenance 29% Furniture/Appliances 15%
Food Away from Home 12%
Alcoholic Beverages 2%
70% 60% 50% 40% 30% 20% 10% 0%
Source: CoStar Retail Spending Report (2016)
Retail Potential
Retail Sales
Source: CBRE Inc. Fairfield County Statistic Report (2015)
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 Movie Theater Attendees (Bowtie Cinemas & Avon Theater Film Center)
Downtown Special Events Stamford Media Center Attendees (NBC Universal) Palace Theater Attendees Sources: Avon Theatre & Stamford Center for the Arts
Avon Theatre on Bedford Street
Dining and Mingling on Main Street
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 156 guest rooms
13
Residential Profile Recent Residential Complex Sales in Stamford 8/2014
75 Tresser
$121.0 MM
9/2014 Glenview House
$69.1 MM
10/2015 Village Stamford
$45.0 MM
5/2016
$87.5 MM
Highgrove
Commuters in front of UBS on North State Street
2016 Est. Households 2016 Est. Avg. Household Size
1 mile
3 miles
5 miles
10 miles
15 miles
18,603
49,503
66,210
137,420
292,800
2.30
2.60
2.60
2.65
2.69
Source: CoStar Demographic Report (2016)
14
Residential Profile Year Built
Apartments & Condominiums Within a ¼ mile radius of Stamford Downtown Pre-1996 1990 The Classic - 25 Forest Street 1986 Canterbury Green - 201 Broad Street 1989 The Biltmore - 127 Greyrock Place 1996 Parc Grove - 200 Broad Street 1999 Stamford Corners - 1455 Washington Boulevard N/A The Wescott - 1450 Washington Boulevard 2001 Park Square West: Phase 1 - 101 Summer Street 2002 Archstone- Bedford & North 2001 AVA Stamford - 50 Forest 2005 Mill River House - 35 West Broad Street 2006 Adams Mill River House- 25 Adams 2006 Metropolitan - 1515 Summer Street 2009 Glenview House - 25 Glenbrook Road 2008 Eastside Commons - 840 East Main Street 2009 100 Prospect Street 2008 11 Forest Street 2009 Trump Parc - 7 Broad Street 2011 The Blvd. - 1201 Washington Boulevard 2013 Parallel 41 - 1340 Washington Boulevard N/A 65 Prospect N/A 77 Prospect N/A Cornerstone at Bedford - 1425 Bedford Street N/A Hoyt Bedford - 112 Hoyt Street N/A Village at Stamford - 500 Bedford Street N/A Morgan Manor - 83-95 Morgan Street 2011 Highgrove - 70 Forest Street 2013 The Moderne – 163 Franklin Street 2014 75 Tresser – 75 Tresser Boulevard 2014 The Verano – 750 Summer Street 2015 66 Summer – 66 Summer Street 2016 Summer House – 184 Summer Street 2016 Element One – 101 Morgan Street 2016 Bedford Hall - 545 Bedford Street SUBTOTALS: Cumulative Total:
Trump Parc on Washington Boulevard at Broad Street
Basis as 1997 Facility of 1996 2016 1,600 A +C 144 C 106 C 161 A +C 401 A +C 195 A +C 280 A 143 A 160 A 306 A 92 A 60 C 51 A 142 A 108 C 94 A 16 A 166 A +C 94 A 124 A 127 A 143 A 368 A 352 A 160 A 243 A 92 A 58 A 344 A 58 A 209 A 226 A 175 A 82 A 2,011 5,069 7,080
Source: Stamford Downtown
Recently Completed
2015-16 Units
66 Summer House
209
Summer House
226
Element One
175
Bedford Hall
82
New Inventory Totals: Under Construction
692 2016-18 Units
Rippowam Place
116
Atlantic Station
650
Park Square West IV
209
New Inventory Totals:
975
Proposed with Land Use Approvals
2016-18 Units
Urby Stamford
650
New Inventory Totals:
650
Proposed Pending Land Use Approvals
2016-18 Units
245 Atlantic
212
New Inventory Totals:
212
Within a 1 mile radius of Stamford Downtown
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, through Ambassador, Landscaping and Cleaning Services.
16