Stamford Downtown www.stamford-downtown.com 2016 Demographic Profile
Stamford Downtown 2016 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 (DSSD) 16 In 2014, Stamford was ranked the #1 place to live in CT by movoto.com! Source: http://www.movoto.com/ct/best-places-in-connecticut/ Map provided by The Nielsen Company (Site Report 2015) 1, 3 & 5 mile Trade area rings from center of Stamford Downtown
Stamford Population Profile According to the U.S. Census update, between 2010 and 2015, Connecticut s population increased by about 22,000 people and 25% of that increase happened in Stamford. Estimated 2016 1 mile 3 miles 5 miles 10 miles Outdoor dining on Bedford Street Population 44,309 129,652 175,282 371,113 Avg. Household Income $81,122 $114,314 $130,973 $139,179 Note: Trade area rings start at the corner of Atlantic Street & Broad Street in Stamford Downtown. Driving Times from Stamford Downtown Shoppers at the Stamford Downtown Farmer s Market 50 minutes- New York City 17 minutes- Westchester Airport, White Plains, NY 90 minutes- Hartford, CT 45 minutes- New Haven, CT 2016 Education Attainment (Age 25+) 1 mile 3 mile 5 mile Advanced Degree 14.06% 19.05% 22.25% Bachelor s Degree 22.18% 25.00% 27.12% 49.37% Dining and mingling on Lower Summer Street Source: CoStar Demographic Report 2016 Source: http://www.stamfordadvocate.com/ Associate s Degree/Some College 23.71% 23.86% 22.56% High School Diploma or GED 22.04% 20.09% 18.14% High School Non-graduates 18.01% 12.00% 9.93% 2
Stamford Population Profile 2016 Est. Median Age: (1 mile Radius) 35 2016 Est. Population by Sex 1 mile 3 miles 5 miles Male 49.32% 48.74% 48.36% Female 50.68% 51.26% 51.64% Lunch at Bedford Street outdoor patio Fernando Luis Alvarez Gallery 2016 Estimated Age Distribution (Numbers and Percentages): 1 mile 3 miles 5 miles 0-4 3,350 7.56% 8,543 6.59% 10,852 6.19% 5-19 7,113 16.06% 24,957 19.25% 35,082 20.02% 20-24 2,280 5.15% 7,047 5.44% 9,745 5.56% 25-44 17,278 38.99% 38,776 29.90% 47,377 27.04% Diners enjoying happy hour in Columbus Park 45-64 9,588 21.63% 33,382 25.75% 47,307 26.98% 65+ 4,700 10.61% 16,946 13.07% 24,919 14.22% Source: CoStar Demographic Report 2016 3
Stamford Downtown Population Profile According to a survey of the approximately 20,000 individuals living in Stamford Downtown, the typical Stamford Downtown Resident is: Young: Affluent: Smart: 65% of households in the Downtown have someone 18-34, while 62% have none 35 or older. $108,000 is the median income for Downtown residents (as compared to $69,000 in-state, $82,500 in Fairfield County and $78,200 in the City of Stamford ). 90% of households have someone with a college or advanced degree. Employed: 83% of Downtown households have someone who works, 52% in the City of Stamford or Downtown and 83% within 15 miles of home. 16% work in NYC. Source: Witan Intelligence (6/2013) 4
Daytime Population Daytime Employees in Stamford Downtown 1 mile radius 52,279 5 mile radius 109,005 Source: CoStar Daytime Employment Report 2016 25,000 vehicles per day pass thru the intersection of Atlantic/Broad/and Bedford UConn, Stamford in the heart of Stamford Downtown Students University of Connecticut, Stamford Located in the heart of Stamford Downtown Total Undergraduate Enrollment as of Fall 2015: 1,635 Total Graduate Enrollment as of Fall 2015: 465 Total Faculty and Staff: 152 Sacred Heart University, Graduate Center Total Graduate Enrollment as of Fall 2015: 158 Total Faculty and Staff: 15 Source: UConn Stamford 2015 & Sacred Heart University 2015 Weekday Inbound Outbound Metro North Weekday Ridership 9,280 5,447 Total 14,727 Weekend Stamford Transportation Center Inbound Outbound 8,637 3,395 Total 12,032 Source: Metro North Operations Report 2015 5
Business Employment & Corporate Profile Business Sectors in Stamford Downtown Health Care & Social Assistance 26% Retail 14% Finance-Insurance-Real Estate 17% Hospitality & Food Service 6% Other 8% Manufacturing 2% Construction 6% Total Number of Businesses (1 mile radius): Scientific & Technology Services 21% 4,707 Source: CoStar Daytime Employment Report 2016 6
Business Employment & Corporate Profile Stamford Hospital UBS Stamford Town Center RBS City of Stamford: City Government City of Stamford: Board of Education Deloitte General Electric Capital Corporation Starwood Hotels US Postal Service GenRe Corporation Point72 Asset Management Gartner Group XL Reinsurance Purdue Pharma NBC Sports Pitney Bowes PricewaterhouseCoopers Nestle Waters North America Affinion Group Oracle Corp./Hyperion Solutions WWE Conair Corporation Omega Engineering Daymon Worldwide Thomson Reuters Corporation NBCUniversal Synapse Group Ernst & Young Elizabeth Arden Chelsea Piers CT Odyssey Re KPMG LLC 2016 Top Stamford Employers 0 500 1,000 1,500 2,000 2,500 3,000 Source: The Business Council of Fairfield County 7
Office Market Profile Central Business District Office Space: Class A & B Existing: 53 Buildings - 9,755,855 sf Projected: Metro Transit Center Gateway 600,000 sf 323,000 sf CBD Class A Office- 1st Quarter 2016 Number of Buildings: 34 Total Square Footage: 8,330,271 sf Combined Available Space: 2,097,678 sf* Availability Rate: 25.18% Average Asking Rent: $45.76/sf CBD Class B Office-1st Quarter 2016 Recent Office Sales in Stamford 14/15 1290 Summer St. 41,000 SF $12.0 MM ($292.00 psf) 201 High Ridge Rd. 200,000 SF $17.0 MM ($85.00 psf) 110 Prospect St. 7,996 SF 1.02MM ($105.37 psf) 600 Summer St. 101,070 SF $10.65MM ($105.37 psf) Source: City of Stamford Tax Assessor s Office, Stamford Advocate Number of Buildings: 19 Total Square Footage: 1,425,584 sf Combined Available Space: 334,607 sf* Availability Rate: 23.47% Average Asking Rent: $33.54/sf * Includes direct and sublease office space Source: CBRE Inc. Fairfield County Statistic Report 8
Office Market Profile Existing Buildings Over 100,000 sf 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 (UBS Phase 1) 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 300 Atlantic Street 1055 Washington Blvd Class A 178,000 sf Projected Buildings Over 100,000sf Metro Tower 350,000 sf Source: Cushman & Wakefield Research Services Gateway 323,000 sf 9
Retail Profile 2016 Stamford Downtown Retail Occupancy 95.3% * 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 Macy s Target Stamford Downtown Anchors Burlington Coat Factory Safavieh Saks Fifth Ave. Off Fifth 225,000 sf 164,000 sf 123,000 sf 85,000 sf 78,000 sf Home Improvement Stores 2% Retail Sector in Stamford Downtown Miscellaneous 22% Eating and Drinking Places 33% Food Stores 10% Apparel and Acessory Stores 14% Furniture and Home Furnishings 10% General Merchandise Stores 3% Auto Dealers and Gas Stations 6% Barnes & Noble Apple 40,000 sf 10,000 sf *Not Including Stamford Town Center Occupancy Rate Source: CoStar Demographic Report (2016) 10
Retail Profile Trends in Retail Rental Rates Transportation/ Maintenance 29% Stamford Town Center 2016 Total Annual Consumer Spending Education/Day Care 8% Health Care 4% Apparel 6% Entertainment 8% Food at Home 16% Food Away from Home 12% 70% 60% 50% 40% 30% 20% 10% 0% 2015 Retail Sales Potential vs. Actual Sales Furniture/Appliances 15% Source: CoStar Retail Spending Report (2016) Alcoholic Beverages 2% Retail Potential Retail Sales Source: CBRE Inc. Fairfield County Statistic Report 11
Economic Generators: Dining & Entertainment Annual Attendance 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. 960,000 Movie Theater Attendees (Bowtie Cinemas & Avon Theater Film Center) 350,000 Downtown Special Events 80,000 Stamford Media Center Attendees (NBC Universal) 60,000 Palace Theater Attendees Sources: Avon Theatre & Stamford Center for the Arts Avon Theatre on Bedford Street Dining and Mingling on Main St. 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 Expected completion 2016 13
Residential Profile Source: Juner William Pitt Sotheby s International Realty Recent Residential Complex Sales in Stamford 8/2014 75 Tresser $121.0 MM 9/2014 Glenview House $69.1 MM 10/2015 Village Stamford $45.0 MM 1 mile 3 miles 5 miles 10 miles 15 miles 2016 Est. Households 18,603 49,503 66,210 137,420 292,800 2016 Est. Avg. Household Size 2.30 2.60 2.60 2.65 2.69 Source: CoStar Demographic Report (2016) 14
Residential Profile Apartments & Condominiums Basis as 1997- Within a ¼ mile radius of Stamford Downtown of 1996 2015 Facility Pre-1996 1,600 A +C The Classic - 25 Forest Street 144 C Canterbury Green- 201 Broad Street 106 C The Biltmore - 127 Greyrock Place 161 A +C Parc Grove - 200 Broad Street 401 A +C Stamford Corners - 1455 Washington Boulevard 195 A +C The Westcott - Washington Blvd. 280 A Park Square West: Phase 1-101 Summer Street 143 A Archstone- Bedford &North 160 A Avalon at Greyrock Place - 50 Forest 306 A Mill River House - 35 West Broad Street 92 A Adams Mill River House- 25 Adams 60 C Metropolitan - 1515 Summer Street 51 A Glenview House - 25 Glenbrook Road 142 A Eastside Commons - 840 East Main Street 108 C 100 Prospect Street 94 A 11 Forest Street 16 A Trump Parc - 7 Broad Street 166 A +C The Blvd. - 1201 Washington Boulevard 94 A Parallel 41-1340 Washington Boulevard 124 A 65 Prospect 127 A 77 Prospect 143 A Cornerstone at Bedford - 1425 Bedford Street 368 A Hoyt Bedford - 112 Hoyt Street 352 A Village at Stamford - 500 Bedford Street 160 A Morgan Manor - 83-95 Morgan Street 243 A Highgrove - 70 Forest Street 92 A The Moderne 163 Franklin Street 58 A 75 Tresser 75 Tresser Boulevard 344 A The Verano 750 Summer Street 58 A 66 Summer 66 Summer Street 209 A Summer House 184 Summer Street 226 A SUBTOTALS: 2,011 4,812 Cumulative Total: 6,823 A: apartments C: condos Trump Parc on Washington Boulevard at Broad Street Under Construction 2016-17 Units Within a 1 mile radius of Stamford Downtown Park Square West Phase IV 209 Rippowam Place (Washington Blvd. & Rippowam Pl.) 116 Morgan Lofts 175 Bedford Hall 82 Atlantic Station 650 New Inventory Totals: 1,232 Planned with Land Use Approvals 2016-17 Units Within a 1 mile radius of Stamford Downtown Urban Ready Living (Parcel 38) 672 New Inventory Totals: 672 Source: DSSD 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 thorough Ambassador, Landscaping and Cleaning Services. 16