Stamford Downtown www.Stamford-Downtown.com
2017 Demographic Profile
Stamford Downtown 2017 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……………
16
Stamford has been ranked in the Top 10 in this year’s Financial Times’ fDi “American Cities of the Future 2017/2018” report.
Map provided by The Nielsen Company (Site Report) – 1, 3 & 5 mile Trade area rings from center of Stamford Downtown
Source: Financial Times Ltd
1
Stamford Population Profile
1 mile
Estimated 2016
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.
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 (2017) Source: http://www.stamfordadvocate.com/
1 mile
3 mile
5 mile
Advanced Degree
15.96%
20.22%
23.52%
Bachelor’s Degree
23.62%
25.36%
27.38%
Associate’s Degree/Some College
23.78%
24.30%
22.67%
High School Diploma or GED
19.18%
18.33%
16.67%
High School Non-graduates
17.47%
11.80%
9.76%
50.90%
2
Stamford Population Profile 2017 Average Age: (1 mile Radius)
36
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 Age Distribution (Numbers and Percentages): 1 mile
3 miles
5 miles
0-4
3,395
7.36%
8,462
6.43%
10,726
6.06%
5-19
7,684
16.65%
25,494
19.37%
35,369
19.98%
20-24
2,334
5.06%
7,329
5.57%
10,218
5.77%
25-44
17,554
38.03%
38,804
29.49%
47,404
26.78%
45-64
10,280
22.28%
34,256
26.03%
48,072
27.15%
65+
4,913
10.64%
17,270
13.12%
25,265
14.27%
Diners enjoying happy hour in Columbus Park
Source: CoStar Demographic Report (2017)
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 Daytime Employees in Stamford Downtown 1 mile radius 5 mile radius
In March 2017, 2,943,543 vehicles visited Stamford Downtown
62,054 109,005 Source: CoStar Daytime Employment Report 2017
Students University of Connecticut - Stamford Located in the heart of Stamford Downtown • Total Undergraduate Enrollment as of Fall 2016: 1,500 • Total Graduate Enrollment as of Fall 2016: 500 • Total Fulltime Faculty and Staff: 80
Sacred Heart University - Graduate Center
• Total Graduate Enrollment as of Spring 2017: 240 • Total Faculty and Staff: 12 Source: UConn Stamford 2016 & Sacred Heart University 2017 UConn Stamford in the heart of Stamford Downtown
Weekday
Metro North Weekday Ridership
Inbound Outbound
9,260 5,350
Total
14,610
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 6%
Finance & Insurance 10%
Scientific & Technology Services 21%
Retail & Wholesale Trade 13% Real Estate, Renting, Leasing Public Administration & Sales 6% 2%
Total Number of Businesses (1 mile radius):
6,017
Health Care & Social Assistance 23%
Hospitality & Food Service 5% Other Services Manufacturing 10% 2%
Information 2%
Source: CoStar Daytime Employment Report (2017)
6
Business Employment & Corporate Profile 2017 Top Stamford Employers
Stamford Town Center Stamford Hospital RBS Deloitte UBS NBC Sports Gartner Inc. XL Reinsurance General Re Corporation Indeed.com Purdue Pharma LP Pitney Bowes Point 72 Nestle Waters North Amercia PricewaterhouseCoopers Affinion Group Conair Corporation 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 – 1st Quarter 2017
RBS, 600 Washington Boulevard
Recent Office Sales in Stamford 2016-2017: 750 East Main St.
97,197 sf
$8.1 MM ($83.33 psf)
441 Summer St.
10,000 sf
$2.35 MM ($235.00 psf)
294 & 300 Main St.
92,337 sf
$11.65 MM ($126.17 psf)
Source: City of Stamford Tax Assessor’s Office
Total Inventory:
9,742,804 sf
Total Available:
3,235,848 sf
Availability Rate:
33.2%
Vacancy Rate:
30.5%
Net Absorption:
-339,351 sf
Leasing Velocity: (*New Leasing Only)
171,201 sf
Average Asking Rent:
$42.79 psf
Source: CBRE Inc. Fairfield County Statistic Report
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
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
Source: Cushman & Wakefield Research Services
9
Retail Profile 2017 Stamford Downtown Retail Occupancy
92.5%*
Total CBD Retail Square Footage: 1,754,922 sf 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%
Apparel and Acessory Stores 14% Furniture and Home Furnishings 10%
Source: CoStar Demographic Report (2016)
*Not Including Stamford Town Center Occupancy Rate
Auto Dealers and Gas Stations 6%
10
Retail Profile 2016 Total Annual Consumer Spending Education/Day Care 8% Health Care 4%
Entertainment 8% Apparel 6%
Stamford Town Center
Food at Home 16%
Transportation/ Maintenance 29% Furniture/Appliances 15%
Food Away from Home 12%
Alcoholic Beverages 2%
Retail Sales Potential vs. Actual Sales 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 5/2016
Highgrove
$87.5 MM
1/2017
66 Summer
$67.5 MM
1/2017
Parallel 41
$33.35 MM Commuters in front of UBS on North State Street
1 mile
3 miles
5 miles
19,226
50,172
66,806
2016 Avg. Household Size
2.30
2.60
2.60
2016 Avg. Household Vehicles
1.00
2.00
2.00
Owner Occupied
5,511 28.66%
26,341 52.50%
39,254 58.76%
Renter Occupied
13,716 71.34%
23,831 47.50%
27,552 41.24%
2016 Estimated Households
Source: CoStar Demographic Report (2017)
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 2011 Highgrove - 70 Forest Street 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 2013 Parallel 41 - 1340 Washington Boulevard 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 – 111 Morgan Street 2016 Bedford Hall - 545 Bedford Street 2017 UConn Stamford Dormitories SUBTOTALS: Cumulative Total: Source: Stamford Downtown
Basis as 1997 Facility of 1996 2017 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 92 A 127 A 143 A 368 A 352 A 160 A 243 A 124 A 58 A 344 A 58 A 209 A 226 A 175 A 82 A 116 A 2,011 5,185 7,196
Trump Parc on Washington Boulevard at Broad Street
Recently Completed
2016-2017 Units
Element One
175
Bedford Hall
82
UConn Stamford Dormitories
116
New Inventory Totals:
373
Under Construction
2017-18 Units
Atlantic Station
650
Park Square West IV
209
New Inventory Totals:
859
Proposed with Land Use Approvals
2017-18 Units
URL Stamford
672
New Inventory Totals:
672
Proposed Pending Land Use Approvals
2017-18 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