STAMFORD DOWNTOWN 2019 Demographic Profile
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STAMFORD DOWNTOWN 2019 DEMOGRAPHIC PROFILE Table of Contents page(s) Population Profile
2-5
Daytime Population
6
Business Employment & Corporate Profile 7-8 Office Market Profile Retail Profile
9-10 11-12
Economic Generators: Dining, Entertainment & Hotels
13-14
Residential Profile
15-16
Stamford Downtown Special Services District
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Map provided by The Nielsen Company (Site Report) – 1, 3 & 5 mile Trade area rings from center of Stamford Downtown
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POPULATION PROFILE 1 mile
3 miles
5 miles
Population
44,211
135,060
181,406
Avg. Household Income
$103,710
$126,720
$139,941
2019 Estimate
Driving Times from Stamford Downtown • 17 minutes - Westchester Airport, White Plains, NY
• 45 minutes - New Haven, CT • 50 minutes - New York City • 90 minutes - Hartford, CT
Note: Trade area rings start at the corner of Atlantic Street & Broad Street in Stamford Downtown.
2019 Education Attainment (Age 25+) 1 mile
3 mile
5 mile
Advanced Degree
17.32%
20.15%
23.46%
Bachelor’s Degree
26.17%
26.11%
27.89%
Associate’s Degree/Some College
24.70%
25.18%
23.53%
High School Diploma or GED
19.27%
18.64%
16.82%
High School Non-graduates
12.54%
9.92%
8.30%
51.42%
Source: CoStar Demographic Report Source: www.stamfordadvocate.com
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POPULATION PROFILE 2019 Households by Marital Status 1 mile
3 miles
5 miles
Married
6,201
23,255
33,579
Married (no children)
3,392
11,626
16,669
Married (w/children)
2,809
11,629
16,910
2019 Age Distribution (Numbers and Percentages):
2019 Average Age: 37 (1 mile Radius)
1 mile
3 miles
5 miles
0-4
3,058
6.92%
8,146
6.03%
10,362
5.71%
5-19
7,532
17.04%
26,424
19.56%
36,158
19.93%
20-24
2,106
4.76%
7,568
5.60%
10,552
5.82%
25-44
16,239
36.73%
38,729
28.68%
47,719
26.31%
45-64
10,304
23.30%
36,160
26.77%
50,323
27.74%
65+
4,974
11.25%
18,033
13.35%
26,293
14.49%
Source: CoStar Demographic Report
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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 $74,168 in-state, $91,198 in Fairfield County and $84,893 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)
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STAMFORD DOWNTOWN 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, 2019 – June 30, 2019
Vehicle Counts: April 1, 2019 – June 30, 2019
22,751
79,328
Average Day
Average Day
25,019
80,132
Saturday Average
Saturday Average
159,255
555,296
Average Day
Average Week
36,904
97,880
Mon., June 17th - Busiest Day
Tues., May 21st - Busiest Day
202,628
582,338
Peak Week Beginning Mon., June 17th
Peak Week Beginning Mon, Apr. 1st
3,666,044
14,533,384
YTD
YTD
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Daytime Employees in Stamford Downtown
DAYTIME POPULATION
Stamford Transportation Center
61,899
1 mile radius
S ource: CoStar Daytime Employment Report 2019
UConn Stamford in the heart of Stamford Downtown
Stamford Transportation Center •
As of 2016, STC has an annual ridership of over 8.4 million for Metro-North and 410,600 passengers on Amtrak
•
The Stamford station is the 2nd busiest MetroNorth station after Grand Central Terminal
•
Stamford Transportation Center makes up 21% of ridership on the New Haven Line
Students University of Connecticut - Stamford Located in the heart of Stamford Downtown • Undergraduate Enrollment as of Spring 2019: 1,977 • Graduate Enrollment as of Spring 2019: 650 • 425 Students Living in University-Sponsored Housing • Fulltime Faculty and Staff: 116 Source: UConn Stamford 2019
7 Source: City of Stamford’s Economic Development Department
BUSINESS EMPLOYMENT & CORPORATE PROFILE Business Sectors in Stamford Downtown
Total Number of Businesses (1 mile radius):
5,351
Construction
Finance & Insurance
Health Care & Social Assistance
Hospitality & Food Service
Information
Manufacturing
Other Services
Public Administration & Sales
Real Estate, Renting, Leasing
Retail & Wholesale Trade
Scientific & Technology Services
Utitlties & Waste Management
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BUSINESS EMPLOYMENT & CORPORATE PROFILE 2019 Top Stamford Employers
City of Stamford & BOE (Full Time Only) Stamford Health Stamford Town Center Charter Communications Deloitte Indeed.com UBS AG NBC Sports Group Synchrony Financial Gartner Point72 Asset Management Nestlé Waters North America RBS Securities/NatWest Markets PwC Chelsea Piers Connecticut World Wrestling Entertainment Henkel North America Consumer Goods Marriott International/Starwood Gen Re Conair Corporation XL Group Ernst & Young Lord & Taylor KPMG Legg Mason Greenwich Associates Purdue Pharma LP Affinion Group Sema4 Thomson Reuters Corporation
0
500
1,000
1,500
2,000
2,500
3,000
3,500
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OFFICE MARKET PROFILE Central Business District Office Space: Class A & B Existing: 53 Buildings - 9,742,562 sf One Stamford Realty, 1 Stamford Forum on Tresser Boulevard
CBD Class A & B Office – 2nd Quarter 2019 Recent Office Sales in Stamford 2018-2019: July 2019
300 Main St.
46,000 sf
$8.3 MM ($180 psf)
June 2019
600 Washington Blvd.
450,000 sf
$163 MM ($362 psf)
December 2018
600 Summer St.
93,000 sf
18.2 MM ($194 psf)
August 2018 April 2018
46 Atlantic St. 36 Atlantic St.
Source: City of Stamford Tax Assessor’s Office
9,000 sf 16,195 sf
Total Inventory:
10,287,471 sf
Total Available:
2,976,620 sf
Availability Rate:
28.9%
Vacancy Rate:
24.3%
Net Absorption:
(157,967) sf
Leasing Activity:
90,189 sf
Average Asking Rent:
$48.06 (s/sf/yr)
$2.35 MM ($261 psf) $2.1 MM ($129 psf)
Source: CBRE Inc. Fairfield County Statistic Report
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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 (One Stamford Realty)
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
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RETAIL PROFILE 2019 Annual Consumer Spending (1 mile)
Total Health Care 6%
Total Education/Day Care 9%
Total Apparel 7%
Total Entertainment & Hobbies 9%
Food at Home 18% Total Transportation & Maint. 28%
Food Away From Home 14%
Stamford Town Center
Household Equip & Furnishings 7% Source: CoStar Retail Spending Report (2019)
Alcoholic Beverages 2%
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RETAIL PROFILE Downtown Retail Stamford Town Center
768,000 sf
Downtown Retail Streets
986,922 sf
Total
1,754,922 sf Sources: DSSD & Taubman Company
Total CBD Retail Square Footage: 1,754,922 sf Retail Sector in Stamford Downtown General Merchandise Stores 3%
Home Improvement Stores 2% Miscellaneous 22%
Food Stores 10%
Auto Dealers and Gas Stations 6%
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
*Not Including Stamford Town Center Occupancy Rate
Apparel and Acessory Stores 14% Eating and Drinking Places 33%
Furniture and Home Furnishings 10%
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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
14 Avon Theatre on Bedford Street
Dining and Mingling on West Park Place
ECONOMIC GENERATORS: HOTELS (2,319 ROOMS) Nearby
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 Residence Inn by Marriott 35 Atlantic Street 156 guest rooms
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
Stamford Marriott Hotel & Spa on Tresser Boulevard
15 Courtyard by Marriott Stamford Downtown on Summer Street
RESIDENTIAL PROFILE Recent Residential Complex Sales in Stamford 4/2019
Stamford Corners
$60 MM 1 mile
3 miles
5 miles
18,987
51,448
68,706
2.30
2.60
2.60
$354,016
$568,525
$682,561
Owner Occupied
5,268 27.75%
26,351 51.22%
39,199 57.05%
Renter Occupied
13,719 72.25%
25,097 48.78%
29,507 42.95%
9/2018
Element One
$78 MM
2019 Occupied Households
8/2018
Park Square West
$42 MM
2019 Average Household Size
7/2018
The Moderne & The Verano
2019 Median Home Value $35 MM
Source: CoStar Demographic Report (2019)
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Year Built
RESIDENTIAL PROFILE Recently Completed
2017-18 Units
UConn Stamford Dormitories
116
Atlantic Station (Phase 1)
325
Vela on the Park
209
Residence Inn by Marriott (extended stay)
156
New Inventory Totals: Under Construction
806 2018-20 Units
The Smyth URBY Stamford
UC Inventory Totals:
414 648
1,062
Planned With Land Use Approvals 2018-20 True North
212
Atlantic Station (Phase 2)
325
Planned Inventory Totals
537
Within a 1 mile radius of Stamford Downtown
Apartments & Condominiums Within a ¼ mile radius of Stamford Downtown Pre-1996 1986 Canterbury Green - 201 Broad Street 1986 The Wescott - 1450 Washington Boulevard 1989 The Biltmore - 127 Greyrock Place 1990 The Classic - 25 Forest Street 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 2018 Vela on the Park - 1011 Washington Boulevard SUBTOTALS: Cumulative Total:
Basis as 1997 Facility of 1996 2018 1,968 A +C 106 C A 280 161 A+C 144 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 209 A 2,659 5,071 7,730
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STAMFORD DOWNTOWN SPECIAL SERVICES DISTRICT PROMOTING A SAFE, CLEAN & GREEN DOWNTOWN
The Stamford Downtown Special Services District (DSSD) brings 350,000 people Downtown annually through its 16 events which include the Parade Spectacular (far left), Alive @ Five (center) and its famous outdoor sculpture exhibit (right).
A central component of the DSSD mission is to provide an inviting Downtown environment, through Ambassador, Landscaping and Cleaning Services.
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