Stamford Downtown Demographic Profile
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1 Stamford Downtown Demographic Profile
2 Stamford Downtown 2018 Demographic Profile Table of Contents page(s) Population Profile Daytime Population.. 6 Business Employment & Corporate Profile Office Market Profile 9-10 Retail Profile Economic Generators: Dining, Entertainment & Hotels Residential Profile 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
3 Stamford Population Profile According to the Costar, between 2010 and 2017, in 1 mile radius, the population growth increased by nearly 13% Estimate 1 mile 3 miles 5 miles Visitors at Arts & Crafts Imagination Corner Population 46, , ,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 50 minutes- New York City 17 minutes- Westchester Airport, White Plains, NY 90 minutes- Hartford, CT 45 minutes- New Haven, CT Diners at Lucky s on Bedford Street Holiday Lighting at Columbus Park Source: CoStar Demographic Report (2018) Source: Education Attainment (Age 25+) 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
4 Stamford Population Profile 2017 Average Age: (1 mile Radius) Population by Sex 1 mile 3 miles 5 miles Male 49.32% 48.74% 48.36% Female 50.68% 51.26% 51.64% Brews on Bedford Fernando Luis Alvarez Gallery 2017 Age Distribution (Numbers and Percentages): 1 mile 3 miles 5 miles 0-4 3, % 8, % 10, % , % 25, % 35, % , % 7, % 10, % , % 38, % 47, % Models at Fashion Night Out , % 34, % 48, % 65+ 4, % 16, % 24, % Source: CoStar Demographic Report (2018) 3
5 Stamford Downtown Population Profile According to a 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
6 Stamford Population Profile Stamford Downtown has partnered with UK-based Springboard to install and operate pedestrian and vehicle counters on Bedford Street/Spring Street and Broad Street/Atlantic Street to help us understand how people move through the Downtown. Pedestrian Counts: Jan 1, 2018 March 31, ,348 *15, ,302 Average Day Peak Week Beginning Mon, March ,234 *107,925 28,482 Average Week Sat, March 24 (March for Our Lives Event) - Busiest Day 19,703 *16,854 1,496,569 *Up 6.7% 2,948 Saturday Average YTD Average on Bedford St. Vehicle Counts: Jan 1, 2018 March 31, ,747 *83, ,278 Average Day Peak Week Beginning Mon, Jan 8 558,229 *585,092 95,699 Average Week Fri, March 16 - Busiest Day 82,672 *83,521 7,256,972 *4.6% down Saturday Average YTD** * 2017 Counts ** Vehicular traffic down because the change of I-95 s exit 8, which now detours traffic away from Atlantic St. 5
7 Daytime Population 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 2018 & Sacred Heart University 2018 Metro North Weekday Ridership Weekday UConn Stamford in the heart of Stamford Downtown Inbound Outbound 9,260 5,350 Total 14,610 Weekend Inbound Outbound 8,637 3,395 Total 12,032 Source: Metro North Operations Report (2015) Stamford Transportation Center 6
8 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 2% Other Services 10% Total Number of Businesses Manufacturing 2% Hospitality & Food Service 5% Information 2% (1 mile radius): 6,137 Source: CoStar Daytime Employment Report (2018) 7
9 Business Employment & Corporate Profile 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 2018 TOP STAMFORD EMPLOYERS ,000 1,500 2,000 2,500 Source: The Business Council of Fairfield County
10 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 : CBD Class A & B Office 1 st Quarter 2018 Total Inventory: 9,754,562 sf 680 Washington Blvd. 133,000 sf $42 MM ($ psf) Total Available: 3,316,091 sf 750 Washington Blvd. 186,148 sf $53.7 MM ($ psf) 239 Main St. 8,542 sf $2.1 MM ($ psf) 1 Bank St. 14,931 sf $2.1 MM ($ psf) 36 Atlantic St. 16,195 sf $2.1 MM ($129 psf) Availability Rate: 34.1% Vacancy Rate: 29.5% Net Absorption: Leasing Velocity: (*New Leasing Only) Average Asking Rent: (95,213) sf 183,671 sf $43.42 psf Source: City of Stamford Tax Assessor s Office Source: CBRE Inc. Fairfield County Statistic Report 9
11 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 10
12 Retail Profile Total CBD Retail Square Footage: 1,754,922 sf Downtown Retail Stamford Town Center Downtown Retail Streets Total 768,000 sf 986,922 sf 1,754,922 sf Sources: DSSD & Taubman Company Stamford Downtown Anchors Home Improvement Stores 2% Retail Sector in Stamford Downtown Miscellaneous 22% Food Stores 10% General Merchandise Stores 3% Auto Dealers and Gas Stations 6% Macy s Target Burlington Coat Factory Safavieh 225,000 sf 164,000 sf 123,000 sf 85,000 sf Eating and Drinking Places 33% Apparel and Acessory Stores 14% Furniture and Home Furnishings 10% Saks Fifth Ave. Off Fifth 78,000 sf Barnes & Noble Apple 40,000 sf 10,000 sf Source: CoStar Demographic Report (2016) *Not Including Stamford Town Center Occupancy Rate 11
13 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% Alcoholic Beverages 3% Food Away From Home 14% Food at Home 19% 70% 60% 50% 40% 30% 20% 10% 0% Retail Sales Potential vs. Actual Sales Source: CoStar Retail Spending Report (2018) Retail Potential Retail Sales Source: CBRE Inc. Fairfield County Statistic Report (2015) 12
14 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
15 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 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 Stamford Marriott Hotel & Spa on Tresser Boulevard 14
16 Residential Profile Recent Residential Complex Sales in Stamford 1/ 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 2017 Estimated Households 19,214 50,108 66, Avg. Household Size Median Home Value $332,667 $559,077 $698,818 Owner Occupied 5, % Renter Occupied 13, % 26, % 23, % 39, % 27, % Source: CoStar Demographic Report (2017) 15
17 Residential Profile Recently Completed Units Summer House 226 Element One 175 Bedford Hall 82 UConn Stamford Dormitories 116 Atlantic Station (Phase 1) 325 Vela on the Park 209 New Inventory Totals: 1,133 Under Construction Units Residence Inn by Marriott (extended stay) 156 Atlantic Station (Phase 2) 325 URBY Stamford 672 UC Inventory Totals: 1,153 Proposed Pending Land Use Approvals Within a 1 mile radius of Stamford Downtown Units 245 Atlantic Washington 400 Proposed Inventory Totals 612 Year Apartments & Condominiums Basis as Built Within a ¼ mile radius of Stamford Downtown of Facility Pre ,968 A +C 1986 Canterbury Green Broad Street 106 C 1986 The Wescott Washington Boulevard 280 A 1989 The Biltmore Greyrock Place 161 A+C 1990 The Classic - 25 Forest Street 144 C 1996 Parc Grove Broad Street 401 A+C 1999 Stamford Corners Washington Boulevard 195 A+C 2001 Park Square West: Phase Summer Street 143 A 2002 Archstone- Bedford & North 160 A 2001 AVA Stamford - 50 Forest 306 A 2001 Village at Stamford 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 Summer Street 51 A 2009 Glenview House - 25 Glenbrook Road 142 A 2008 Eastside Commons East Main Street 108 C Prospect Street 94 A Forest Street 16 A 2009 Trump Parc - 7 Broad Street 166 A+C 2011 The Blvd 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 Hoyt Street 352 A N/A Morgan Manor Morgan Street 243 A 2013 Parallel Washington Boulevard 124 A 2013 The Moderne 163 Franklin Street 58 A Tresser 75 Tresser Boulevard 344 A 2014 The Verano 750 Summer Street 58 A 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 Bedford Street 82 A 2017 UConn Stamford Dormitories 116 A 2018 Atlantic Station 355 Atlantic Street 325 A 2018 Vela on the Park Washington Boulevard 209 A SUBTOTALS: 2,659 5,071 Cumulative Total: 7,730 A: apartments C: condos Source: Stamford Downtown 16
18 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), 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
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