Stamford Downtown www.Stamford-Downtown.com
2018 Demographic Profile
Stamford Downtown 2018 Demographic Profile Table of Contents
page(s)
Population Profile......................................................
2-5
Daytime Population…………………………………………………..
6
Business Employment & Corporate Profile………………..
7-8
Office Market Profile…………………………………………………
9-10
Retail Profile……………………………………………………………..
11-12
Economic Generators: Dining, Entertainment & Hotels….....
13-14
Residential Profile……………………………………………………..
15-16
Stamford Downtown Special Services District……………
17
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
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Stamford Population Profile
1 mile
2018 Estimate
Visitors at Arts & Crafts’ Imagination Corner
According to the Costar, between 2010 and 2018, in 1 mile radius, the population growth increased by 14.17%.
3 miles
5 miles
Population
46,549
131,481
176,151
Avg. Household Income
$97,522
$124,005
$138,781
Note: Trade area rings start at the corner of Atlantic Street & Broad Street in Stamford Downtown.
Driving Times from Stamford Downtown •50 minutes- New York City •90 minutes- Hartford, CT
•17 minutes- Westchester Airport, White Plains, NY •45 minutes- New Haven, CT
Diners at Lucky’s on Bedford Street
2018 Education Attainment (Age 25+)
Holiday Lighting at Columbus Park
Source: CoStar Demographic Report (2018) Source: www.stamfordadvocate.com
1 mile
3 mile
5 mile
Advanced Degree
16.69%
19.99%
23.19%
Bachelor’s Degree
24.83%
26.06%
27.90%
Associate’s Degree/Some College
25.16%
25.20%
23.61%
High School Diploma or GED
19.99%
18.70%
16.89%
High School Non-graduates
13.33%
10.05%
8.41%
51.09%
2
Stamford Population Profile 2018 Average Age: (1 mile Radius)
36
2018 Households by Marital Status 1 mile
3 miles
5 miles
Married
6,482
23,027
33,282
Married (no children)
3,485
11,469
16,387
Married (w/children)
2,997
11,559
16,895
Fernando Luis Alvarez Gallery
Brews on Bedford
2018 Age Distribution (Numbers and Percentages): 1 mile
3 miles
5 miles
0-4
3348
7.19%
8,301
6.31%
10,523
5.97%
5-19
7,956
17.09%
25,516
19.41%
35,027
19.89%
20-24
2,299
4.94%
7,460
5.67%
10,469
5.94%
25-44
17,153
36.86%
37,994
28.89%
46,491
26.40%
45-64
10,747
23.09%
34,772
26.43%
48,305
27.43%
65+
5,046
10.84%
17,437
13.26%
25,339
14.38%
Models at Fashion Night Out
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
Stamford Population Profile Stamford Downtown has partnered with UK-based Springboard to install and operate pedestrian and vehicle counters on Bedford/Spring Streets and Broad/Atlantic Streets to help us understand how people move through the Downtown.
Pedestrian Counts: April 1, 2018 – June 30, 2018 21,441 *15,397
168,733
150,511 *162,210
31,323
23,330 *27,797
3,453,217 **down 2.7%
Average Day
Average Week
Saturday Average
Peak Week Beginning Mon, June 11th
Thursday, June 14 - Busiest Day (Starting Day of World Cup)
YTD
Vehicle Counts: April 1, 2018 – June 30, 2018 79,747 *83,585
591,278
Average Day
Peak Week Beginning Mon, Jan 8
558,229 *585,092
95,699
82,672 *83,521
7,256,972 *down 4.6%
Average Week
Saturday Average
Fri, March 16 - Busiest Day YTD***
* 2017 Counts ** Pedestrian traffic down because Bedford Street’s counter line was shortened because of outdoor café patios. *** Vehicular traffic down because the change of I-95’s exit 8, which now detours traffic away from Atlantic St.
5
Daytime Population Daytime Employees in Stamford Downtown 1 mile radius
61,899 Source: CoStar Daytime Employment Report 2018
Stamford Transportation Center
Metro North Weekday Ridership Weekday Inbound Outbound Total
9,260 5,350 14,610
Weekend Inbound Outbound Total Source: Metro North Operations Report (2015)
8,637 3,395 12,032
UConn Stamford in the heart of Stamford Downtown
Students
University of Connecticut - Stamford Located in the heart of Stamford Downtown • Undergraduate Enrollment as of Spring 2018: 2,100 • Graduate Enrollment as of Fall 2018: 600 • Fulltime Faculty and Staff: 120 Source: UConn Stamford 2018 (approximate numbers)
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Business Employment & Corporate Profile BUSINESS SECTORS IN STAMFORD DOWNTOWN Scientific & Technology Services 18%
Utitlties & Waste Management 5%
Construction 4% Finance & Insurance 10% Health Care & Social Assistance 26%
Retail & Wholesale Trade 11% Real Estate, Renting, Leasing 6% Public Administration & Sales 2% Other Services 9%
Total Number of Businesses (1 mile radius):
5,351
Manufacturing 2%
Information 2%
Hospitality & Food Service 5%
Source: CoStar Daytime Employment Report (2018)
7
Business Employment & Corporate Profile 2018 Top Stamford Employers
Stamford Town Center Stamford Hospital Deloitte NBC Sports Group Indeed.com UBS Gartner Inc. Synchrony Financial General Re Corporation Point 72 Pitney Bowes PwC RBS Nestle Waters North Amercia Henkel/Sun Products Conair Corporation KPMG LLP XL Group World Wrestling Federation Entertainment Inc. Daymon Worldwide NBC Universal (Studio Shows) Synapse Group Purdue Pharma LP Greenwich Associates Ernst & Young Elizabeth Arden Odyssey Re Affinion Group Willis Towers Watson RSM US LLP Genworth Financial Encompass Digital Media Charter Communications Vineyard Vines Octagon Fuji Medical Systems AmeriCares Tronox Northwestern Mutual-Stamford Cytec Solvay Group Thomson Reuters Corporation
0
500
Source: The Business Council of Fairfield County 2018
1000
1500
2000
2500
3000 8
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 2017-2018: 680 & 750 Washington Blvd.
1 Bank St.
36 Atlantic St.
326,468 sf
14,931 sf
16,195 sf
$97 MM ($297 psf)
$2.1 MM ($142.11 psf)
$2.1 MM ($129 psf)
Source: City of Stamford Tax Assessor’s Office
CBD Class A & B Office – 2nd Quarter 2018 Total Inventory:
9,734,562 sf
Total Available:
3,347,342 sf
Availability Rate:
34.4%
Vacancy Rate:
30.0%
Net Absorption:
(31,251) sf
Leasing Velocity: (*New Leasing Only)
138,644 sf
Average Asking Rent:
$43.71 psf
Source: CBRE Inc. Fairfield County Statistic Report
9
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
10
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 11
Retail Profile 2018 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. 28%
Household Equip & Furnishings 7%
Food at Home 18% 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)
12
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
13
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
14
Residential Profile Recent Residential Complex Sales in Stamford 8/2018
Park Square West
$42 MM
7/2018 The Moderne & The Verano
$35 MM
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
2018 Estimated Households
19,447
50,117
66,447
2018 Average Household Size
2.30
2.60
2.60
$345,981
$562,061
$688,263
Owner Occupied
5,538 28.48%
26,036 51.95%
38,652 58.17%
Renter Occupied
13,909 71.52%
24,082 48.05%
27,795 41.83%
2018 Median Home Value
Source: CoStar Demographic Report (2018)
15
Residential Profile Recently Completed
2016-18 Units
Summer House Element One Bedford Hall UConn Stamford Dormitories
226 175 82 116
Atlantic Station (Phase 1)
325
Vela on the Park
209
New Inventory Totals: Under Construction
1,133 2018-19 Units
Residence Inn by Marriott (extended stay) Atlantic Station (Phase 2) URBY Stamford
UC Inventory Totals:
Proposed Pending Land Use Approvals
156 325 672
1,153 2018- 19 Units
245 Atlantic
212
873 Washington
400
Proposed Inventory Totals
612
Within a 1 mile radius of Stamford Downtown
Year Built
Apartments & Condominiums Basis as 1997 Facility of 1996 2018 Within a ¼ mile radius of Stamford Downtown Pre-1996 1,968 A +C 1986 Canterbury Green - 201 Broad Street 106 C 1986 The Wescott - 1450 Washington Boulevard A 280 1989 The Biltmore - 127 Greyrock Place 161 A+C 1990 The Classic - 25 Forest Street 144 C 1996 Parc Grove - 200 Broad Street 401 A+C 1999 Stamford Corners - 1455 Washington Boulevard 195 A+C 2001 Park Square West: Phase 1 - 101 Summer Street 143 A 2002 Archstone- Bedford & North 160 A 2001 AVA Stamford - 50 Forest 306 A 2001 Village at Stamford - 500 Bedford Street 160 A 2005 Mill River House - 35 West Broad Street 92 A 2006 Adams Mill River House- 25 Adams 60 C 2006 Metropolitan - 1515 Summer Street 51 A 2009 Glenview House - 25 Glenbrook Road 142 A 2008 Eastside Commons - 840 East Main Street 108 C 2009 100 Prospect Street 94 A 2008 11 Forest Street 16 A 2009 Trump Parc - 7 Broad Street 166 A+C 2011 The Blvd. - 1201 Washington Boulevard 94 A 2012 Highgrove - 70 Forest Street 92 A N/A 65 Prospect 127 A N/A 77 Prospect 143 A N/A Hoyt Bedford - 112 Hoyt Street 352 A N/A Morgan Manor - 83-95 Morgan Street 243 A 2013 Parallel 41 - 1340 Washington Boulevard 124 A 2013 The Moderne – 163 Franklin Street 58 A 2014 75 Tresser – 75 Tresser Boulevard 344 A 2014 The Verano – 750 Summer Street 58 A 2015 66 Summer – 66 Summer Street 209 A 2016 Summer House – 184 Summer Street 226 A 2016 Element One – 111 Morgan Street 175 A 2016 Bedford Hall - 545 Bedford Street 82 A 2017 UConn Stamford Dormitories 116 A 2018 Atlantic Station – 355 Atlantic Street 325 A 2018 Vela on the Park - 1011 Washington Boulevard 209 A SUBTOTALS: 2,659 5,071 Cumulative Total: 7,730 A: apartments C: condos 16 Source: Stamford Downtown
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.
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