Stamford Downtown www.Stamford-Downtown.com
2018 Demographic Profile
Stamford Downtown 2018 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 CareerBliss annual list of "Happiest Cities to Work" in the United States.
Map provided by The Nielsen Company (Site Report) – 1, 3 & 5 mile Trade area rings from center of Stamford Downtown
Source: CNBC 2018
1
Stamford Population Profile
1 mile
2017 Estimate
Shoppers at the Stamford Downtown Farmer’s Market
According to the Costar, between 2010 and 2017, in 1 mile radius, the population growth increased by nearly 13%.
3 miles
5 miles
Population
46,129
131,373
176,594
Avg. Household Income
$89,402
$118,164
$133,918
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
2017 Education Attainment (Age 25+)
Outdoor dining on Bedford Street
Source: CoStar Demographic Report (2018) Source: www.stamfordadvocate.com
1 mile
3 mile
5 mile
Advanced Degree
15.93%
20.18%
23.45%
Bachelor’s Degree
23.54%
25.32%
27.34%
Associate’s Degree/Some College
23.8%
24.33%
22.71%
High School Diploma or GED
19.21%
18.35%
16.71%
High School Non-graduates
17.52%
11.81%
9.78%
50.79%
2
Stamford Population Profile 2017 Average Age: (1 mile Radius)
36
2017 Population by Sex Male
1 mile
3 miles
5 miles
49.32%
48.74%
48.36% Lunch on Bedford Street at Lucky’s outdoor patio
Female
50.68%
51.26%
Fernando Luis Alvarez Gallery
51.64%
2017 Age Distribution (Numbers and Percentages): 1 mile
3 miles
5 miles
0-4
3,340
7.24%
8,321
6.33%
10,546
5.97%
5-19
7,736
16.77%
25,607
19.49%
35,493
20.09%
20-24
2,342
5.08%
7,343
5.59%
10,235
5.80%
25-44
17,518
37.97%
38,674
29.43%
47,210
26.74%
45-64
10,361
22.46%
34,467
26.24%
48,317
27.33%
65+
4,832
10.47%
16,960
12.91%
24,792
14.04%
Diners enjoying happy hour in Columbus Park
Source: CoStar Demographic Report (2018)
3
Stamford Downtown Population Profile According to a 2016-2017 survey of the over 550 individuals living in Stamford Downtown, the typical Stamford Downtown Apartment Dweller is: Young:
84% of households in the Downtown have someone 18-34, while 71% have none 35 or older.
Affluent: $114,000 is the median income for Downtown residents (as compared to $70,331 in-state, $84,233 in Fairfield County and $79,359 in the City of Stamford). Smart:
94% of households have someone with a college or advanced degree. 46% have a master’s degree or higher.
Employed: 70% of Downtown households have someone who works, 54% in the City of Stamford or Downtown and 68% within 15 miles of home. 7% work in NYC.
Source: Witan Intelligence (7/2017)
4
Daytime Population In 2017, 31,270,545 vehicles visited Stamford Downtown
Daytime Employees in Stamford Downtown 1 mile radius
63,711 Source: CoStar Daytime Employment Report 2017
Students
University of Connecticut - Stamford
Located in the heart of Stamford Downtown • Total Undergraduate Enrollment as of Fall 2017: 1,700 • Total Graduate Enrollment as of Fall 2017: 600 • Total Fulltime Faculty and Staff: 110
Sacred Heart University - Graduate Center
• Total Graduate Enrollment as of Fall 2017: 191 • Total Faculty and Staff: 15
Source: UConn Stamford 2017 & 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
Scientific & Technology Services 19%
Utitlties & Waste Management 5%
Construction 5% Finance & Insurance 9%
Health Care & Social Assistance 24%
Retail & Wholesale Trade 12% Real Estate, Renting, Leasing 5% Public Administration & Sales Other Services 2% 10%
Total Number of Businesses (1 mile radius):
6,137
Manufacturing 2%
Hospitality & Food Service Information 5% 2%
Source: CoStar Daytime Employment Report (2018)
6
Business Employment & Corporate Profile 2018 TOP STAMFORD EMPLOYERS Stamford Town Center Stamford Hospital RBS Deloitte UBS NBC Sports Group Gartner Inc. Synchrony Financial Purdue Pharma LP Indeed.com General Re Corporation Point 72 Pitney Bowes PricewaterhouseCoopers Nestle Waters North Amercia Affinion Group Conair Corporation XL Group World Wrestling Federation… Daymon Worldwide NBC Universal (Studio Shows) Henkel/Sun Products Synapse Group Greenwich Associates Ernst & Young Elizabeth Arden Odyssey Re KPMG LLP Towers Watson RSM US LLP Partner RE Genworth Financial Encompass Digital Media Charter Communications Vineyard Vines Novitex Octagon Esselte Corp. Fuji Medical Systems AmeriCares Tronox Northwestern Mutual-Stamford Cytec Solvay Group Thomson Reuters Corporation
0
500
Source: The Business Council of Fairfield County 2018
1,000
1,500
2,000
2,500 7
Office Market Profile Central Business District Office Space: Class A & B
Existing: 53 Buildings 9,742,562 sf Purdue Pharma, 1 Stamford Forum on Tresser Boulevard
Recent Office Sales in Stamford 2016-2017: 680 Washington Blvd.
133,000 sf
$42 MM ($315.79 psf)
750 Washington Blvd.
186,148 sf
$53.7 MM ($288.48 psf)
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
CBD Class A & B Office – 4th Quarter 2017 Total Inventory:
9,754,562 sf
Total Available:
3,411,304 sf
Availability Rate:
35.0%
Vacancy Rate:
29.3%
Net Absorption:
(205,751) sf
Leasing Velocity: (*New Leasing Only)
151,009 sf
Average Asking Rent:
$43.37 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 230,000 sf
888 Washington Blvd (Government Center) 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 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
Stamford Downtown Anchors Macy’s
225,000 sf
Target
164,000 sf
Burlington Coat Factory
123,000 sf
Safavieh
85,000 sf
Saks Fifth Ave. Off Fifth
78,000 sf
Barnes & Noble
40,000 sf
Apple
10,000 sf
Retail Sector in Stamford Downtown
General Merchandise Stores 3%
Home Improvement Stores 2% Miscellaneous 22%
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 2017 Annual Consumer Spending (1 mile)
Total Health Care 5%
Total Education/Day Care 9%
Total Apparel 7%
Total Entertainment & Hobbies 9% Stamford Town Center
Total Transportation & Maint. 27%
Household Equip & Furnishings 7%
Food at Home 19% Food Away From Home 14%
Alcoholic Beverages 3%
Retail Sales Potential vs. Actual Sales 70% 60% 50% 40% 30% 20% 10% 0%
Source: CoStar Retail Spending Report (2018)
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 1/2017
66 Summer
$67.5 MM
1/2017
Parallel 41
$33.35 MM
9/2017
Bedford Hall
$24.5 MM
12/2017
The Wescott
$67 MM Commuters in front of UBS on North State Street
1 mile
3 miles
5 miles
19,214
50,108
66,685
2017 Avg. Household Size
2.40
2.60
2.60
2017 Median Home Value
$332,667
$559,077
$698,818
Owner Occupied
5,488 28.56%
26,280 52.45%
39,124 58.67%
Renter Occupied
13,726 71.44%
23,828 47.55%
27,560 41.33%
2017 Estimated Households
Source: CoStar Demographic Report (2017)
14
Residential Profile Year Built
Apartments & Condominiums Basis as of 1996 Within a ¼ mile radius of Stamford Downtown Pre-1996 1,968 1990 The Classic - 25 Forest Street 144 1986 Canterbury Green - 201 Broad Street 106 1986 The Wescott - 1450 Washington Boulevard 280 1989 The Biltmore - 127 Greyrock Place 161 1996 Parc Grove - 200 Broad Street 1999 Stamford Corners - 1455 Washington Boulevard 2001 Park Square West: Phase 1 - 101 Summer Street 2002 Archstone- Bedford & North 2001 AVA Stamford - 50 Forest 2001 Village at Stamford - 500 Bedford Street 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 2012 Highgrove - 70 Forest Street N/A 65 Prospect N/A 77 Prospect N/A Hoyt Bedford - 112 Hoyt 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 2018 Atlantic Station – 355 Atlantic Street SUBTOTALS: 2,659 Cumulative Total: A: apartments Source: Stamford Downtown
1997 Facility 2018 A +C C C A A+C 401 A+C 195 A+C 143 A 160 A 306 A 160 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 352 A 243 A 124 A 58 A 344 A 58 A 209 A 226 A 175 A 82 A 116 A 325 A 4,862 7,521 C: condos
Trump Parc on Washington Boulevard at Broad Street
Recently Completed
2016-18 Units
Summer House Element One Bedford Hall UConn Stamford Dormitories
226 175 82 116
Atlantic Station (Phase 1)
325
New Inventory Totals:
924
Under Construction
2018-19 Units
Residence Inn by Marriott (extended stay) Atlantic Station (Phase 2) Vela on the Park URBY Stamford
UC Inventory Totals:
Proposed Pending Land Use Approvals
156 325 209 672
1,362 2018- 19 Units
245 Atlantic
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