stamford downtown demographic profile
DESCRIPTION
Updated through 3rd quarter, 2014.TRANSCRIPT
Stamford Downtown 2014Demographic 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)
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/
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 Report 2014
In the last decade 2000-2010, Stamford’s population grew by
4.75% (5,560 people) outpacing Fairfield County’s growth of
3.88% (34,262 people).
2
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 Report 2014
Fernando Luis Alvarez GalleryLunch at Bedford Street outdoor patio
3
Diners enjoying happy hour on Bedford Street
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 Report 2014
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 Spring 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 2014
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: Fairfield County Business Council
7
350
400
440
500
500
550
600
600
685
800
800
860
900
900
1,043
1,495
1,501
2,000
2,000
2,195
2,300
0 500 1,000 1,500 2,000 2,500
Conair Corporation
WWE
Oracle Corp./Hyperion Solutions
Nestle Waters North America
PricewaterhouseCoopers
Pitney Bowes
NBC Sports
Purdue Pharma
Point72 Asset Management
Deloitte & Touche
GenRe Corporation
Gartner Group
Starwood Hotels
US Postal Service
General Electric Capital Corporation
City of Stamford: Board of Education
City of Stamford: City Government
Stamford Town Center
UBS
Stamford Hospital
RBS
2014 Top Stamford Employers
Office Market Profile
CBD Class A Office- 3rd Quarter 2014
CBD Class B Office- 3rd Quarter 2014
* Includes direct and sublease office space
Source: CBRE Inc. Fairfield County Statistical Report8
Central Business DistrictOffice Space: Class A & BExisting: 53 Buildings - 9,794,189 sfProjected:Metro Transit Center 600,000 sfGateway 323,000 sf
Number of Buildings: 34
Total Square Footage: 8,368,605 sf
Combined Available Space: 2,167,769 sf*
Availability Rate: 25.90%
Average Asking Rent: $45.75/sf
Number of Buildings: 19
Total Square Footage: 1,425,584 sf
Combined Available Space: 378,390 sf*
Availability Rate: 26.54%
Average Asking Rent: $29.07/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)
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
9
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 Report (2014)
Stamford DowntownAnchors
10
2014 Stamford DowntownRetail Occupancy
95.3%*
Home Improvement
Stores2%
General Merchandise
Stores3%
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 Report (2014)
The Bridal Suite Stamford Town Center R. Hollander: Master Goldsmith
11
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 Statistical Report
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 national research organization, America for the
Arts, theatre attendees spend an average of $23 per person before
or after visiting the theatre.
12
Economic Generators: Hotels (2,168 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
13
PlannedResidence Inn by Marriott
35 Atlantic Street131 guest roomsExpected completion 2015
Residential Profile
2007 2008 2009 2010 2011 2012
Citywide Single Family $853,692 $739,840 $665,153 $707,933 651,147 $654,645
Citywide Condominium $409,081 $378,930 $338,526 $339,975 306,332 $276,028
Downtown Single Family $386,101 $595,485 $495,770 $530,961 493,486 $482,196
Downtown Condominium $461,878 $349,258 $291,725 $330,236 271,239 $324,224
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
Av
era
ge
Sa
les
Pri
ce
Average Residential Sales Prices: Citywide & Downtown
Source: William Pitt Sotheby’s International Realty
1 mile 3 miles 5 miles 10 miles 15 miles
2014 Est. Households 18,578 49,020 68,221 137,420 292,800
2014 Est. Avg. Household Size 2.30 2.60 2.60 2.65 2.69
Source: CoStar Report (2014)
14
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 2014-16
Within a 1 mile radius of Stamford Downtown Units
The Summer House 222
Park Square W. Phase II (at 66 Summer St.) and IV 418
Bedford Hall 82
New Inventory Totals: 722
Apartments & Condominiums Basis as of 1996
1997-2013
FacilityWithin a ¼ mile radius of Stamford Downtown
Pre-1996 1,600 A +CThe Classic - 25 Forest Street 144 CCanterbury Green- 201 Broad Street 106 CThe Biltmore - 127 Greyrock Place 161 A +CParc Grove - 200 Broad Street 401 A +CStamford Corners - 1455 Washington Boulevard 195 A +CThe Westcott - Washington Blvd. 280 APark Square West: Phase 1 - 101 Summer Street 143 AArchstone- Bedford &North 160 AAvalon at Greyrock Place - 50 Forest 306 AMill River House - 35 West Broad Street 92 AAdams Mill River House- 25 Adams 60 CMetropolitan - 1515 Summer Street 51 AGlenview House - 25 Glenbrook Road 142 AEastside Commons - 840 East Main Street 108 C100 Prospect Street 94 A11 Forest Street 16 ATrump Parc - 7 Broad Street 166 A +CThe Blvd. - 1201 Washington Boulevard 94 AParallel 41 - 1340 Washington Boulevard 124 A65 Prospect 127 A77 Prospect 143 ACornerstone at Bedford - 1425 Bedford Street 368 AHoyt Bedford - 112 Hoyt Street 352 AVillage at Stamford - 500 Bedford Street 160 AMorgan Manor - 83-95 Morgan Street 243 AHighgrove - 70 Forest Street 92 AThe Moderne – 163 Franklin Street 58 A75 Tresser – 75 Tresser Boulevard 344 AThe Verano – 750 Summer Street 58 ASUBTOTALS: 2,011 4,377Cumulative Total: 6,388A: apartmentsC: condos
Planned with Land Use Approvals 2014-16
Within a 1 mile radius of Stamford Downtown Units
Urban Ready Living (Parcel 38) 672
Rippowam Place (Washington Blvd. & Rippowam Pl.) 118
Morgan Lofts (Bedford St. & Morgan St.) 175
Atlantic Station (Post Office Site) 650
New Inventory Totals: 1615
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
16