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Stamford Downtown www.Stamford-Downtown.com

2016-2017 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 2016, Stamford was ranked the #3 in the nation for highest % increase in new apartments!

Map provided by The Nielsen Company (Site Report) – 1, 3 & 5 mile Trade area rings from center of Stamford Downtown

Source: COSTAR Group

1


Stamford Population Profile

Shoppers at the Stamford Downtown Farmer’s Market

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

Population

46,158

131,617

177,052

Avg. Household Income

$89,536

$119,149

$135,201

Note: Trade area rings start at the corner of Atlantic Street & Broad Street in Stamford Downtown.

Driving Times from Stamford Downtown Dining and mingling on Lower Summer Street

•50 minutes- New York City •90 minutes- Hartford, CT

•17 minutes- Westchester Airport, White Plains, NY •45 minutes- New Haven, CT

2016 Education Attainment (Age 25+)

Outdoor dining on Bedford Street

Source: CoStar Demographic Report 2016 Source: http://www.stamfordadvocate.com/

1 mile

3 mile

5 mile

Advanced Degree

14.06%

19.05%

22.25%

Bachelor’s Degree

22.18%

25.00%

27.12%

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%

49.37%

2


Stamford Population Profile 2016 Est. Median Age: (1 mile Radius)

35

2016 Est. Population by Sex Male

1 mile

3 miles

5 miles

49.32%

48.74%

48.36% Lunch at Bedford Street outdoor patio

Female

50.68%

51.26%

Fernando Luis Alvarez Gallery

51.64%

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%

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%

Diners enjoying happy hour in Columbus Park

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: 65% of households in the Downtown have someone 18-34, while 62% have none 35 or older. Affluent: $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). Smart: 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 25,000 vehicles per day pass thru the intersection of Atlantic/Broad/and Bedford

Daytime Employees in Stamford Downtown 1 mile radius 5 mile radius

62,054 109,005 Source: CoStar Daytime Employment Report 2016

Students University of Connecticut, Stamford Located in the heart of Stamford Downtown • Total Undergraduate Enrollment as of Spring 2016: 1,635 • Total Graduate Enrollment as of Spring 2016: 465 • Total Faculty and Staff: 152

Sacred Heart University, Graduate Center • Total Graduate Enrollment as of Spring 2016: 158 • Total Faculty and Staff: 15 Source: UConn Stamford 2015 & Sacred Heart University 2015 UConn, Stamford in the heart of Stamford Downtown

Metro North Weekday Ridership Weekday Inbound Outbound

9,280 5,447

Total

14,727

Weekend Inbound Outbound

8,637 3,395

Total Stamford Transportation Center

12,032 Source: Metro North Operations Report 2015

5


Business Employment & Corporate Profile BUSINESS SECTORS IN STAMFORD DOWNTOWN Utitlties & Waste Management‌

Construction 5%

Scientific & Technology Services 20%

Finance & Insurance 9% Health Care & Social Assistance 22%

Retail & Wholesale Trade 13% Real Estate, Renting, Leasing 5% Public Administration & Sales 2%

Total Number of Businesses (1 mile radius):

6,017

Other Services 10%

Hospitality & Food Service Information 5% 2% Manufacturing 2%

Source: CoStar Daytime Employment Report 2016

6


Business Employment & Corporate Profile 2016 Top Stamford Employers Stamford Town Center Stamford Hospital Starwood Hotels & Resorts Worldwide, Inc. UBS RBS Deloitte General Re Corporation Gartner Inc. XL Reinsurance Indeed.com NBC Sports Purdue Pharma LP Pitney Bowes Point 72 Nestle Waters North Amercia PricewaterhouseCoopers Affinion Group Conair Corporation Oracle Corp./Hyperion Solutions WWE Synchrony Financial Daymon Worldwide NBC Universal (Studio Shows) Elizabeth Arden Ernst & Young Synapse Group Odyssey Re KPMG LLP *Charter Communications Encompass Digital Media Genworth Financial Towers Watson Vineyard Vines Novitex Fuji Medical Systems AmeriCares Northwestern Mutual-Stamford Tronox Thomson Reuters Corporation

0 Source: The Business Council of Fairfield County

500

1,000

1,500

2,000

* Pending employee growth from Time Warner merger.

2,500 7


Office Market Profile Central Business District Office Space: Class A & B Existing: 53 Buildings - 9,742,804 sf

Purdue Pharma, 1 Stamford Forum on Tresser Boulevard

CBD Class A & B Office – 3rd Quarter 2016

RBS, 600 Washington Boulevard

Recent Office Sales in Stamford 2015-2016:

Total Inventory:

9,742,804 sf

Total Available:

3,084,412 sf

Availability Rate:

31.7%

Vacancy Rate:

21.5%

1290 Summer St.

41,000 sf

$12.0 MM ($292.00 psf)

Net Absorption:

(791,508 sf)

201 High Ridge Rd.

200,000 sf

$17.0 MM ($85.00 psf)

Leasing Activity:

57,180 sf

110 Prospect St.

7,996 sf

$1.02 MM ($105.37 psf)

Average Asking Rent:

$43.41/sf

750 East Main St.

97,197 sf

$8.1 MM ($83.33 psf) Source: CBRE Inc. Fairfield County Statistic Report

600 Summer St.

101,070 sf

$10.65 MM ($105.37 psf)

Source: City of Stamford Tax Assessor’s Office

8


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 (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 300 Atlantic Street

9 Source: Cushman & Wakefield Research Services


Retail Profile Total CBD Retail Square Footage: 1,754,922 sf 2016 Stamford Downtown Retail Occupancy

92.5%*

Downtown Retail Stamford Town Center

768,000 sf

Downtown Retail Streets

986,922 sf

Total

1,754,922 sf Sources: DSSD & Taubman Company

Retail Sector in Stamford Downtown Stamford Downtown Anchors Macy’s

225,000 sf

Target

164,000 sf

Burlington Coat Factory

General Merchandise Stores 3%

Home Improvement Stores 2% Miscellaneous 22%

123,000 sf

Safavieh

85,000 sf

Saks Fifth Ave. Off Fifth

78,000 sf

Barnes & Noble

40,000 sf

Apple

10,000 sf

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

10


Retail Profile 2016 Total Annual Consumer Spending Education/Day Care 8% Health Care 4%

Entertainment 8%

Stamford Town Center

Apparel 6%

Retail Sales Potential vs. Actual Sales Food at Home 16%

Transportation/ Maintenance 29% Furniture/Appliances 15%

Food Away from Home 12%

Alcoholic Beverages 2%

70% 60% 50% 40% 30% 20% 10% 0%

Source: CoStar Retail Spending Report (2016)

Retail Potential

Retail Sales

Source: CBRE Inc. Fairfield County Statistic Report (2015)

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 Main Street

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

13


Residential Profile 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

5/2016

$87.5 MM

Highgrove

Commuters in front of UBS on North State Street

2016 Est. Households 2016 Est. Avg. Household Size

1 mile

3 miles

5 miles

10 miles

15 miles

18,603

49,503

66,210

137,420

292,800

2.30

2.60

2.60

2.65

2.69

Source: CoStar Demographic Report (2016)

14


Residential Profile Year Built

Apartments & Condominiums Within a ¼ mile radius of Stamford Downtown Pre-1996 1990 The Classic - 25 Forest Street 1986 Canterbury Green - 201 Broad Street 1989 The Biltmore - 127 Greyrock Place 1996 Parc Grove - 200 Broad Street 1999 Stamford Corners - 1455 Washington Boulevard N/A The Wescott - 1450 Washington Boulevard 2001 Park Square West: Phase 1 - 101 Summer Street 2002 Archstone- Bedford & North 2001 AVA Stamford - 50 Forest 2005 Mill River House - 35 West Broad Street 2006 Adams Mill River House- 25 Adams 2006 Metropolitan - 1515 Summer Street 2009 Glenview House - 25 Glenbrook Road 2008 Eastside Commons - 840 East Main Street 2009 100 Prospect Street 2008 11 Forest Street 2009 Trump Parc - 7 Broad Street 2011 The Blvd. - 1201 Washington Boulevard 2013 Parallel 41 - 1340 Washington Boulevard N/A 65 Prospect N/A 77 Prospect N/A Cornerstone at Bedford - 1425 Bedford Street N/A Hoyt Bedford - 112 Hoyt Street N/A Village at Stamford - 500 Bedford Street N/A Morgan Manor - 83-95 Morgan Street 2011 Highgrove - 70 Forest Street 2013 The Moderne – 163 Franklin Street 2014 75 Tresser – 75 Tresser Boulevard 2014 The Verano – 750 Summer Street 2015 66 Summer – 66 Summer Street 2016 Summer House – 184 Summer Street 2016 Element One – 101 Morgan Street 2016 Bedford Hall - 545 Bedford Street SUBTOTALS: Cumulative Total:

Trump Parc on Washington Boulevard at Broad Street

Basis as 1997 Facility of 1996 2016 1,600 A +C 144 C 106 C 161 A +C 401 A +C 195 A +C 280 A 143 A 160 A 306 A 92 A 60 C 51 A 142 A 108 C 94 A 16 A 166 A +C 94 A 124 A 127 A 143 A 368 A 352 A 160 A 243 A 92 A 58 A 344 A 58 A 209 A 226 A 175 A 82 A 2,011 5,069 7,080

Source: Stamford Downtown

Recently Completed

2015-16 Units

66 Summer House

209

Summer House

226

Element One

175

Bedford Hall

82

New Inventory Totals: Under Construction

692 2016-18 Units

Rippowam Place

116

Atlantic Station

650

Park Square West IV

209

New Inventory Totals:

975

Proposed with Land Use Approvals

2016-18 Units

Urby Stamford

650

New Inventory Totals:

650

Proposed Pending Land Use Approvals

2016-18 Units

245 Atlantic

212

New Inventory Totals:

212

Within a 1 mile radius of Stamford Downtown

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, through Ambassador, Landscaping and Cleaning Services.

16


Stamford Downtown Demographics 2016 Q3