stamford downtown demographics
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Stamford Downtownwww.Stamford-Downtown.com
2015 Demographic Profile
Stamford Downtown 2015Demographic Profile
Map provided by The Nielsen Company (Site Report 2014) –1, 3 & 5 mile Trade area rings from center of Stamford Downtown
Table of Contentspage(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)
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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/
Stamford Population Profile
Outdoor dining on Bedford Street
Shoppers at the Stamford Downtown Farmer’s Market
Dining and mingling on Lower Summer Street
Estimated 2014 1 mile 3 miles 5 miles 10 miles
Population 44,261 128,152 173,889 371,113
Avg. Household Income $81,957 $111,767 $127,117 $139,179
Note: Trade area rings start at the corner of Atlantic Street & Broad Street in Stamford Downtown.
2014 Education Attainment (Age 25+)
1 mile 3 mile 5 mile
Advanced Degree 15.13% 19.88% 23.08%
Bachelor’s Degree 22.28% 24.89% 26.86%
Associate’s Degree/Some College 21.92% 23.31% 22.21%
High School Diploma or GED 21.30% 19.59% 17.66%
High School Non-graduates 19.37% 12.34% 10.19%
49.94%
Source: CoStar Demographic Report 2015Source: http://www.stamfordadvocate.com/
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.
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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
Stamford Population Profile
2014 Est. Median Age:(1 mile Radius)
35
2014 Est. Population by Sex1 mile 3 miles 5 miles
Male 49.32% 48.74% 48.36%
Female 50.68% 51.26% 51.64%
0-4 3,419 7.72% 8,708 6.80% 11,065 6.36%
5-19 6,761 15.27% 24,194 18.89% 34,389 19.77%
20-24 2,417 5.46% 6,949 5.42% 9,467 5.44%
25-44 17,598 39.75% 38,881 30.33% 47,445 27.29%
45-64 8,379 21.18% 32,703 25.51% 46,754 26.89%
65+ 4,688 10.59% 16,718 13.05% 24,769 14.24%
2014 Estimated Age Distribution (Numbers and Percentages):
1 mile 3 miles 5 miles
Source: CoStar Demographic Report 2015
Fernando Luis Alvarez GalleryLunch at Bedford Street outdoor patio
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Diners enjoying happy hour in Columbus Park
Stamford Downtown Population ProfileAccording to a survey of the approximately 20,000 individuals living in StamfordDowntown, the typical Stamford Downtown Resident is:
Young: 65% of households in the Downtown have someone18-34, while 62% have none 35 or older.
Smart: 90% of households have someone with a college oradvanced degree.
Affluent: $108,000 is the median income for Downtownresidents (as compared to $69,000 in-state, $82,500 in Fairfield County and $78,200 in the City of Stamford ).
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
Stamford Transportation Center
UConn, Stamford in the heart of Stamford Downtown
Daytime Employees in Stamford Downtown
1 mile radius 59,150
5 mile radius 109,005Source: CoStar Daytime Employment Report 2015
Metro North Weekday Ridership
StudentsUniversity of Connecticut, Stamford
Located in the heart of Stamford Downtown• Total Undergraduate Enrollment as of Fall 2014: 1,635• Total Graduate Enrollment as of Fall 2014: 465• Total Faculty and Staff: 152
Sacred Heart University, Graduate Center• Total Graduate Enrollment as of Fall 2014: 158• Total Faculty and Staff: 15
Source: UConn Stamford 2014 & Sacred Heart University 2014
Weekday
InboundOutbound
9,2434,729
Total 13,972
Weekend
InboundOutbound
8,4823,395
Total 11,877
Source: Metro North Operations Report 2013 5
25,000 vehicles per day pass thru the intersection
of Atlantic/Broad/and Bedford
Business Employment & Corporate Profile
Source: CoStar Daytime Employment Report 2015
Total Number of Businesses(1 mile radius):
5,744 6
Retail13%
Finance-Insurance-Real Estate15%
Scientific & Technology Services
25%
Construction6%
Manufacturing2%
Other8%
Hospitality & Food Service6%
Health Care & Social Assistance
25%
Business Sectors in Stamford Downtown (1 Mile Radius)
Business Employment & Corporate Profile
Source: The Business Council of Fairfield County
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0 500 1,000 1,500 2,000 2,500 3,000
2015 Top Stamford EmployersStamford HospitalUBSStamford Town CenterRBSCity of Stamford: City GovernmentCity of Stamford: Board of EducationDeloitteGeneral Electric Capital CorporationStarwood HotelsUS Postal ServiceGenRe CorporationPoint72 Asset ManagementGartner GroupXL ReinsurancePurdue PharmaNBC SportsPitney BowesPricewaterhouseCoopersNestle Waters North AmericaAffinion GroupOracle Corp./Hyperion SolutionsWWEConair CorporationOmega EngineeringDaymon WorldwideThomson Reuters CorporationNBCUniversalSynapse GroupErnst & YoungElizabeth ArdenChelsea Piers CTOdyssey ReKPMG LLC
Office Market Profile
CBD Class A Office- 1st Quarter 2015
CBD Class B Office- 1st Quarter 2015
* Includes direct and sublease office space
Source: CBRE Inc. Fairfield County Statistic Report8
Central Business DistrictOffice Space: Class A & BExisting: 53 Buildings - 9,755,855 sfProjected:Metro Transit Center 600,000 sfGateway 323,000 sf
Number of Buildings: 34
Total Square Footage: 8,330,271 sf
Combined Available Space: 2,252,710 sf*
Availability Rate: 27.04%
Average Asking Rent: $46.52/sf
Number of Buildings: 19
Total Square Footage: 1,425,584 sf
Combined Available Space: 386,485 sf*
Availability Rate: 27.11%
Average Asking Rent: $32.74/sf
Recent Sales in Stamford3/2013 9 West Broad St. 185,376 SF $14.5 MM ($78.21 psf)
5/2013 900 Bedford St. 12,360 SF $2.3 MM ($186.08 psf)
9/2013 300 Main St. 92,157 SF $13.5 MM ($146.49 psf)
4/2014 84 West Park Pl. 35,384 SF $6.7 MM ($188.64 psf)
1/2015 600 Summer St. 101,060 SF $10.65MM ($105.00 psf)
Source: City of Stamford Tax Assessor’s Office
Office Market Profile300 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 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) 513,500 sf
1,2,3,4 Stamford Plaza 967,802 sf
1 Station Place Class A 280,074 sf
600 Summer Street 101,070 sf
600 Washington Blvd 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
1055 Washington Blvd Class A 178,000 sf
Existing Buildings Over 100,000 sf
Projected Buildings Over 100,000sf
Metro Tower 350,000 sf
Gateway 323,000 sfSource: Cushman & Wakefield Research Services
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300 Atlantic Street
Retail ProfileTotal CBD Retail Square Footage: 1,754,922 sf
Downtown RetailStamford Town Center 768,000 sf
Downtown Retail Streets 986,922 sf
Total 1,754,922 sfSources: DSSD & Taubman Company
Source: CoStar Demographic Report (2015)
Stamford DowntownAnchors
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2015 Stamford DowntownRetail Occupancy
95.3%*
Home Improvement Stores
2%
General Merchandise Stores
3%
Food Stores10%
Auto Dealers and Gas Stations
6%
Apparel and Acessory Stores
14%
Furniture and Home Furnishings
10%
Eating and Drinking Places33%
Miscellaneous22%
Retail Sector in Stamford Downtown
Macy’s 225,000 sf
Target 164,000 sf
Burlington Coat Factory 123,000 sf
Safavieh 85,000 sf
Barnes & Noble 40,000 sf
Apple 10,000 sf
*Not Including Stamford Town Center Occupancy Rate
Retail Profile
Source: CoStar Retail Spending Report (2015)
Stamford Town Center
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Apparel6%
Entertainment8%
Food at Home16%
Food Away from Home
12%
Alcoholic Beverages
2%Furniture/Appliances
15%
Transportation/Maintenance
29%
Health Care4%
Education/Day Care8%
2014 Total Annual Consumer Spending
0%
10%
20%
30%
40%
50%
60%
70%
Retail Potential Retail Sales
Source: CBRE Inc. Fairfield County Statistic Report
Trends in Retail Rental Rates
2014 Retail Sales Potential vs. Actual Sales
Economic Generators: Dining & Entertainment
Avon Theatre on Bedford Street Dining and Mingling on Main St.
Annual Attendance
960,000 Movie Theater Attendees
(Bowtie Cinemas & Avon Theater Film Center)
350,000 Downtown Special Events
80,000 Stamford Media Center Attendees (NBC Universal)
45,200 Palace Theater Attendees
Sources: Avon Theatre & Stamford Center for the Arts
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.
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Economic Generators: Hotels (2,163 Rooms)
Courtyard by Marriott Stamford Downtown on Summer Street
Stamford Marriott Hotel & Spa on Tresser Boulevard
Courtyard by Marriott Stamford Downtown275 Summer Street
115 guest rooms2 meeting Rooms (largest holds 40 seats)1 restaurant on Site
Sheraton Stamford Downtown700 East Main Street
375 guest rooms16 meeting rooms—largest 4,500 sq. ft.
1 restaurantHotel Zero Degrees
909 Washington Boulevard97 guest rooms
large conference room—fully equipped w/AVStamford Marriott Hotel & Spa
243 Tresser Boulevard500 guest rooms23 meeting rooms—largest 9,000 sq. ft.
2 restaurants
Downtown
Hampton Inn & Suites Stamford26 Mill River Street
99 guest rooms4 meeting rooms—largest 2,150 sq. ft.1 restaurant
Hilton Stamford Hotel and Executive Meeting Center1 First Stamford Place
484 guest rooms30 meeting Rooms—largest 10,000 sq. ft.
1 restaurantStamford Plaza Hotel & Conference Center
2701 Summer Street448 guest rooms33 meeting Rooms—largest 9080 sq. ft.
1 restaurantStamford Suites Hotel
720 Bedford Street45 extended stay suites
Nearby
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Under ConstructionResidence Inn by Marriott
35 Atlantic Street131 guest roomsExpected completion 2016
Residential Profile
Source: Juner William Pitt Sotheby’s International Realty
1 mile 3 miles 5 miles 10 miles 15 miles
2014 Est. Households 18,578 49,020 65,730 137,420 292,800
2014 Est. Avg. Household Size 2.30 2.60 2.60 2.65 2.69
Source: CoStar Demographic Report (2015)
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Recent Residential Complex Sales in Stamford8/2014 75 Tresser $121.0 MM
9/2014 Glenview House $69.1 MM
Residential Profile
Trump Parc on Washington Boulevard at Broad Street
Source: DSSD 15
Under Construction 2015-16
Within a 1 mile radius of Stamford Downtown Units
The Summer House 222
Park Square West Phase IV 209
Rippowam Place (Washington Blvd. & Rippowam Pl.) 118
Morgan Lofts 175
Bedford Hall 82
New Inventory Totals: 806
Apartments & Condominiums Basis as of 1996
1997-2015
FacilityWithin a ¼ mile radius of Stamford Downtown
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
SUBTOTALS: 2,011 4,586
Cumulative Total: 6,597
A: apartmentsC: condos
Planned with Land Use Approvals 2015-16
Within a 1 mile radius of Stamford Downtown Units
Urban Ready Living (Parcel 38) 672
Atlantic Station (Post Office Site) 650
New Inventory Totals: 1,322
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).
A central component of the DSSD mission is to provide an inviting Downtown environment thorough Ambassador, Landscaping and Cleaning Services.
Promoting a Safe, Clean & Green Downtown
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