Stamford Downtown Demographics 2018 Q4

Stamford Downtown www.Stamford-Downtown.com

2018 Demographic Profile

Stamford Downtown 2018 Demographic Profile Table of Contents

page(s)

Population Profile......................................................

2-5

Daytime Population…………………………………………………..

6

Business Employment & Corporate Profile………………..

7-8

Office Market Profile…………………………………………………

9-10

Retail Profile……………………………………………………………..

11-12

Economic Generators: Dining, Entertainment & Hotels….....

13-14

Residential Profile……………………………………………………..

15-16

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 2018

1

Stamford Population Profile

Visitors at Arts & Crafts’ Imagination Corner

According to the Costar, between 2010 and 2018, in 1 mile radius, the population growth increased by 14.17%.

2018 Estimate

1 mile

3 miles

5 miles

Population

46,549

131,481

176,151

Avg. Household Income

$97,522

$124,005

$138,781

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 •90 minutes- Hartford, CT

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

Diners at Lucky’s on Bedford Street

2018 Education Attainment (Age 25+)

Holiday Lighting at Columbus Park

Source: CoStar Demographic Report Source: www.stamfordadvocate.com

1 mile

3 mile

5 mile

Advanced Degree

16.69%

19.99%

23.19%

Bachelor’s Degree

24.83%

26.06%

27.90%

Associate’s Degree/Some College

25.16%

25.20%

23.61%

High School Diploma or GED

19.99%

18.70%

16.89%

High School Non-graduates

13.33%

10.05%

8.41%

51.09%

2

Stamford Population Profile 2018Average Age: (1 mile Radius)

36

2018 Households by Marital Status 1 mile

3 miles

5 miles

Married

6,482

23,027

33,282

Married (no children)

3,485

11,469

16,387

Married (w/children)

2,997

11,559

16,895

ArtWalk

Brews on Bedford

2018 Age Distribution (Numbers and Percentages): 1 mile

3 miles

5 miles

0-4

3,348

7.19%

8,301

6.31%

10,523

5.97%

5-19

7,956

17.09%

25,516

19.41%

35,027

19.89%

20-24

2,299

4.94%

7,460

5.67%

10,469

5.94%

25-44

17,153

36.86%

37,994

28.89%

46,491

26.40%

45-64

10,747

23.09%

34,772

26.43%

48,305

27.43%

65+

5,046

10.84%

17,437

13.26%

25,339

14.38%

Models at Fashion Night Out

Source: CoStar Demographic Report

3

Stamford Downtown Population Profile According to a 2016-2017 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

Stamford Population Profile Stamford Downtown has partnered with UK-based Springboard to install and operate pedestrian and vehicle counters on Bedford/Spring Streets and Broad/Atlantic Streets to help us understand how people move through the Downtown.

Pedestrian Counts: Oct. 1, 2018 – Dec. 31, 2018 16,858

Average Day

143,048

Peak Week Beginning Mon, Oct. 1st Sunday, Nov.

18th

31,404

- Busiest Day (Stamford Downtown Parade Spectacular)

Vehicle Counts: Oct. 1, 2018 – Dec. 31, 2018 82,408

Average Day

660,066

Peak Week Beginning Mon, Dec. 17th

107,415

Friday, December 21st - Busiest Day (Friday before Christmas) 5

Daytime Population Daytime Employees in Stamford Downtown 1 mile radius

61,899 Source: CoStar Daytime Employment Report 2018

Stamford Transportation Center

Metro North Weekday Ridership Weekday Inbound Outbound Total

9,260 5,350 14,610

Weekend Inbound Outbound Total

8,637 3,395 12,032

UConn Stamford in the heart of Stamford Downtown

Students

University of Connecticut - Stamford Located in the heart of Stamford Downtown • Undergraduate Enrollment as of Fall 2018: 2,100 • Graduate Enrollment as of Fall 2018: 600 • 400 Dorm Residents • Fulltime Faculty and Staff: 120

Source: Metro North Operations Report (2015) Source: UConn Stamford 2018 (approximate numbers)

6

Business Employment & Corporate Profile BUSINESS SECTORS IN STAMFORD DOWNTOWN Scientific & Technology Services 18%

Utitlties & Waste Management 5%

Construction 4% Finance & Insurance 10% Health Care & Social Assistance 26%

Retail & Wholesale Trade 11% Real Estate, Renting, Leasing 6% Public Administration & Sales 2% Other Services 9%

Total Number of Businesses (1 mile radius):

5,351

Manufacturing 2%

Information 2%

Hospitality & Food Service 5%

Source: CoStar Daytime Employment Report (2018)

7

Business Employment & Corporate Profile 2018 Top Stamford Employers City of Stamford & BOE (Full Time Only) Stamford Health Stamford Town Center Gartner Charter Communications Deloitte Indeed.com UBS AG NBC Sports Group World Wrestling Entertainment Synchrony Financial Point72 Asset Management Nestlé Waters North America PwC Chelsea Piers Connecticut RBS Securities/NatWest Markets Henkel North America Consumer Goods Marriott International/Starwood Gen Re Conair Corporation XL Group Ernst & Young Lord & Taylor KPMG Legg Mason Greenwich Associates Purdue Pharma LP Affinion Group Sema4 Thomson Reuters Corporation 0

500

1,000

1,500

2,000

Source: City of Stamford’s Economic Development Department & The Business Council of Fairfield County 20119

2,500

3,000

3,500 8

Office Market Profile Central Business District Office Space: Class A & B

Existing: 53 Buildings 9,742,562 sf Recent Office Sales in Stamford 2017-2018:

Purdue Pharma, 1 Stamford Forum on Tresser Boulevard

CBD Class A & B Office – 4th Quarter 2018 600 Summer St. 680 & 750 Washington Blvd.

93,000 sf

326,468 sf

18.2 MM ($194 psf)

$97 MM ($297 psf)

1 Bank St.

14,931 sf

$2.1 MM ($142 psf)

36 Atlantic St.

16,195 sf

$2.1 MM ($129 psf)

46 Atlantic St.

9,000 sf

$2.35 MM ($261 psf)

Source: City of Stamford Tax Assessor’s Office

Total Inventory:

9,734,562 sf

Total Available:

3,176,255 sf

Availability Rate:

32.6%

Vacancy Rate:

27.6%

Net Absorption:

44,278 sf

Leasing Activity:

100,474 sf

Average Asking Rent:

$44.28 (s/sf/yr)

Source: CBRE Inc. Fairfield County Statistic Report

9

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 230,000 sf

888 Washington Blvd (Government Center) 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

Retail Profile 2018 Annual Consumer Spending (1 mile)

Total Health Care 5%

Total Education/Day Care 9%

Total Transportation & Maint.

28%

Total Apparel 7%

Total Entertainment & Hobbies 9%

Food at Home 18% Food Away From Home 14% Stamford Town Center

Household Equip & Furnishings 7%

Alcoholic Beverages 3%

Source: CoStar Retail Spending Report (2018)

12

Retail Profile 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

Stamford Downtown Anchors Macy’s

225,000 sf

Target

164,000 sf

Burlington Coat Factory

123,000 sf

Safavieh

85,000 sf

Saks Fifth Ave. Off Fifth

78,000 sf

Barnes & Noble

40,000 sf

Apple

10,000 sf

Retail Sector in Stamford Downtown

General Merchandise Stores 3%

Home Improvement Stores 2% Miscellaneous 22%

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 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 West Park Place

13

Economic Generators: Hotels (2,319 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 Residence Inn by Marriott 35 Atlantic Street 156 guest rooms

Courtyard by Marriott Stamford Downtown on Summer Street

Stamford Marriott Hotel & Spa on Tresser Boulevard

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

14

Residential Profile Recent Residential Complex Sales in Stamford 9/2018

Element One

$78 MM

8/2018

$42 MM

7/2018

Park Square West The Moderne & The Verano

$35 MM

12/2017

The Wescott

$67 MM

1/2017

66 Summer

$67.5 MM

1/2017

Parallel 41

$33.35 MM

9/2017

Bedford Hall

$24.5 MM

Commuters in front of UBS on North State Street

1 mile

3 miles

5 miles

2018 Estimated Households

19,447

50,117

66,447

2018 Average Household Size

2.30

2.60

2.60

$345,981

$562,061

$688,263

Owner Occupied

5,538 28.48%

26,036 51.95%

38,652 58.17%

Renter Occupied

13,909 71.52%

24,082 48.05%

27,795 41.83%

2018 Median Home Value

Source: CoStar Demographic Report (2018)

15

Residential Profile Recently Completed

2017-18 Units

UConn Stamford Dormitories

116

Atlantic Station (Phase 1)

325

Vela on the Park

209

Residence Inn by Marriott (extended stay)

156

New Inventory Totals:

806

Under Construction 873 Washington URBY Stamford

UC Inventory Totals:

Planned With Land Use Approvals

2018-20 Units 400 672

1,072

2018-20

245 Atlantic

212

Atlantic Station (Phase 2)

325

Planned Inventory Totals

537

Within a 1 mile radius of Stamford Downtown

Year Built

Apartments & Condominiums Basis as 1997 Facility of 1996 2018 Within a ¼ mile radius of Stamford Downtown Pre-1996 1,968 A +C 1986 Canterbury Green - 201 Broad Street 106 C 1986 The Wescott - 1450 Washington Boulevard A 280 1989 The Biltmore - 127 Greyrock Place 161 A+C 1990 The Classic - 25 Forest Street 144 C 1996 Parc Grove - 200 Broad Street 401 A+C 1999 Stamford Corners - 1455 Washington Boulevard 195 A+C 2001 Park Square West: Phase 1 - 101 Summer Street 143 A 2002 Archstone- Bedford & North 160 A 2001 AVA Stamford - 50 Forest 306 A 2001 Village at Stamford - 500 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 - 1515 Summer Street 51 A 2009 Glenview House - 25 Glenbrook Road 142 A 2008 Eastside Commons - 840 East Main Street 108 C 2009 100 Prospect Street 94 A 2008 11 Forest Street 16 A 2009 Trump Parc - 7 Broad Street 166 A+C 2011 The Blvd. - 1201 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 - 112 Hoyt Street 352 A N/A Morgan Manor - 83-95 Morgan Street 243 A 2013 Parallel 41 - 1340 Washington Boulevard 124 A 2013 The Moderne – 163 Franklin Street 58 A 2014 75 Tresser – 75 Tresser Boulevard 344 A 2014 The Verano – 750 Summer Street 58 A 2015 66 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 - 545 Bedford Street 82 A 2017 UConn Stamford Dormitories 116 A 2018 Atlantic Station – 355 Atlantic Street 325 A 2018 Vela on the Park - 1011 Washington Boulevard 209 A SUBTOTALS: 2,659 5,071 Cumulative Total: 7,730 A: apartments C: condos 16 Source: Stamford Downtown

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 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.

17