2019 Demographic Profile
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…………………………………………………
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
Visitors at Arts & Crafts’ Imagination Corner
According to the Costar, between 2010 and 2018, in 1 mile radius, the population growth increased by 14.2%.
2019 Estimate
1 mile
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
2019 Education Attainment (Age 25+)
Holiday Lighting at Columbus Park
Source: CoStar Demographic Report 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 2019 Average Age: (1 mile Radius)
36
2019 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
ARTWALK in Stamford Downtown
Brews on Bedford
2019 Age Distribution (Numbers and Percentages): 1 mile
3 miles
5 miles
0-4
3,348
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
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 $73,433 in-state, $90,123 in Fairfield County and $81,634 in the City of Stamford). $90,123 in Fairfield County and $81,634 in the City of Smart: 94% of households have someone with a college or Stamford). 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: Jan. 1, 2019 – Mar. 31, 2019 17,536
Average Day
158,760
Peak Week Beginning Mon., March 11th Sat., March
16th
32,270
- Busiest Day (St. Patrick’s Day Celebratory Events)
1,595,734 YTD
Vehicle Counts: Jan. 1, 2019 – Mar. 31, 2019 80,379
Average Day
607,736
Peak Week Beginning Mon, Feb. 4th
98,625
Wed., Feb. 6th - Busiest Day (Portion of Washington Blvd. Closed)
7,314,534 YTD
5
Daytime Population Daytime Employees in Stamford Downtown 1 mile radius
61,899 Source: CoStar Daytime Employment Report 2019
Stamford Transportation Center
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 Source: City of Stamford’s Economic Development Department
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 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
6
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 (2019)
7
Business Employment & Corporate Profile 2019 Top Stamford Employers City of Stamford & BOE (Full Time Only) Stamford Health Stamford Town Center Gartner Charter Communications Deloitte Indeed.com UBS AG NBC Sports Group World Wrestling Entertainment Synchrony Financial Point72 Asset Management Nestlé Waters North America PwC Chelsea Piers Connecticut RBS Securities/NatWest Markets 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
Source: City of Stamford’s Economic Development Department & The Business Council of Fairfield County 2019
2,500
3,000
3,500 8
Office Market Profile Central Business District Office Space: Class A & B
Existing: 53 Buildings 9,742,562 sf Recent Office Sales in Stamford 2017-2019:
Purdue Pharma, 1 Stamford Forum on Tresser Boulevard
CBD Class A & B Office – 1st Quarter 2019 600 Summer St. 680 & 750 Washington Blvd.
93,000 sf
326,468 sf
18.2 MM ($194 psf)
$97 MM ($297 psf)
1 Bank St.
14,931 sf
$2.1 MM ($142 psf)
36 Atlantic St.
16,195 sf
$2.1 MM ($129 psf)
46 Atlantic St.
9,000 sf
$2.35 MM ($261 psf)
Source: City of Stamford Tax Assessor’s Office
Total Inventory:
10,287,471 sf
Total Available:
2,818,653 sf
Availability Rate:
27.4%
Vacancy Rate:
22.6%
Net Absorption:
378,254 sf
Leasing Activity:
518,928 sf
Average Asking Rent:
$47.73 (s/sf/yr)
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 2019 Annual Consumer Spending (1 mile)
Total Health Care 5%
Total Education/Day Care 9%
Total Transportation & Maint. 28%
Total Apparel 7%
Total Entertainment & Hobbies 9%
Food at Home 18% Food Away From Home 14% Stamford Town Center
Household Equip & Furnishings 7%
Alcoholic Beverages 3%
Source: CoStar Retail Spending Report (2019)
12
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
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 West Park Place
13
Economic Generators: Hotels (2,319 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 Residence Inn by Marriott 35 Atlantic Street 156 guest rooms
Courtyard by Marriott Stamford Downtown on Summer Street
Stamford Marriott Hotel & Spa on Tresser Boulevard
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
14
Residential Profile Recent Residential Complex Sales in Stamford 4/2019
Stamford Corners
$60 MM
9/2018
Element One
$78 MM
8/2018
$42 MM
7/2018
Park Square West The Moderne & The Verano
$35 MM
12/2017
The Wescott
$67 MM
1/2017
66 Summer
$67.5 MM
1/2017
Parallel 41
$33.35 MM
9/2017
Bedford Hall
$24.5 MM 1 mile
3 miles
5 miles
2019 Estimated Households
19,447
50,117
66,447
2019 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%
2019 Median Home Value
Source: CoStar Demographic Report (2018)
15
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:
806
Under Construction The Smyth URBY Stamford
UC Inventory Totals:
Planned With Land Use Approvals
2018-20 Units 414 648
1,062
2018-20
True North
212
Atlantic Station (Phase 2)
325
Planned Inventory Totals
537
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 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.
17