BAE URBAN ECONOMICS

What BAE URBAN ECONOMICS does

BAE Urban Economics is a privately held urban economics and real estate advisory consulting firm founded in 1986 in Berkeley, California, and currently operating from seven US offices (Berkeley, Davis, Los Angeles, Truckee, Washington DC, Atlanta, and Portland). The firm provides specialized consulting services to public agencies, non-profit organizations, universities, and private developers, with a focus on affordable and workforce housing, transit-oriented development, public-private partnerships, downtown revitalization, market and financial feasibility studies, fiscal and economic impact analysis, economic development planning, sustainability and climate change, and parks/open space planning. BAE has completed more than 2,100 assignments for over 2,500 clients since inception, including long-duration engagements such as National Park Service Presidio advisory (since 1992) and the annual UC Davis Apartment Vacancy Survey (since 2015).

The firm's analytical core combines proprietary frameworks (a triple bottom line approach integrating economics, equity, and environment) with industry-standard tools including IMPLAN input-output economic impact modeling, static and dynamic pro forma feasibility analysis, and fiscal impact modeling. BAE differentiates via MBE/SBE/DBE certifications that enable access to set-aside public-sector contracts, an award track record spanning APA, ULI, DBIA, HUD, GSA, AASHTO, and state-level recognitions, and a deeply tenured staff averaging 15+ years with the firm.

BAE operates a professional services revenue model under which consulting fees are negotiated on a project-by-project basis; no standard pricing tiers or rate cards are publicly disclosed. The go-to-market motion is relationship-based, with clients acquired through professional reputation, industry recognition, and direct engagement via RFPs and referrals. The firm is entirely owned by principals Matt Kowta (Managing Principal) and David Shiver (Principal) following founder Janet Smith-Heimer's retirement in January 2017, with no external institutional investors, venture capital, or private equity backing.

Name

BAE URBAN ECONOMICS

Legal name

BAE Urban Economics Inc.

Website

https://bae1.com

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

11–50 employees

Short description

BAE Urban Economics is a privately held urban economics and real estate advisory consulting firm founded in 1986, serving public agencies, non-profits, universities, and private developers across the US from seven offices with focus on affordable housing, transit-oriented development, and public-private partnerships.

Ownership category

akta.pro rank

Product category

Urban Economics Consulting

NAICS

Administrative Management and General Management Consulting Services (541611), Management Consulting Services (54161), Management, Scientific, and Technical Consulting Services (5416)

SIC

Services-Management Consulting Services (8742), Services-Engineering, Accounting, Research, Management (8700)

akta.pro primary industry

Real Estate Market Research & Economic Advisory (Demand/Supply, Location Analytics) (BPAJANAD)

akta.pro secondary industries

Real Estate Development & Feasibility Advisory (Highest-and-Best-Use, Entitlements Support) (BPAJANAC), Economic & Macroeconomic Research (BPAHALAD), Real Estate Investment Advisory (Acquisitions/Dispositions, Capital Allocation) (BPAJANAA)

Keywords

• Urban economics consulting
• Real estate advisory
• Market feasibility analysis
• Economic development planning
• Affordable housing policy

Headquarters

HQ city

Berkeley

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Consulting Services: Professional consulting fees generated from urban economics advisory, market and financial feasibility studies, economic development planning, and public-private partnership transaction support for government agencies, non-profits, and private developers
2. Policy and Planning Studies: Fees from preparing general plans, housing elements, specific plans, and strategic planning documents for municipal clients

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

BAE Urban Economics is a consulting firm providing urban economics and real estate advisory services to public agencies, non-profit organizations, universities, and private developers. The firm delivers market and financial feasibility studies, public-private partnership structuring, economic and fiscal impact analyses, affordable housing policy work, transit-oriented development planning, downtown revitalization strategies, and related economic development consulting engagements.

Product overview

BAE Urban Economics is a consulting firm offering a unified portfolio of urban economics and real estate advisory services. The core offering consists of consulting engagements across ten specialized service areas: Affordable and Workforce Housing, Downtown/Corridor/Neighborhood Revitalization, Public-Private Partnerships (P3), Market and Financial Feasibility Studies, Economic Development, Public Finance/Economic/Fiscal Impacts and Community Benefits, Transit-Oriented Development and Value Capture, Sustainability and Climate Change, Innovation/Arts/Cultural Districts, and Parks/Open Space/Agriculture. These services are delivered as professional consulting engagements rather than software products or platforms.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Over 2,100 assignments completed for 2,500+ clients since 1986
• +3 more outcomes

Named customers13 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• UC Davis Student Housing and Dining ServicescoreStrategic or Co-development Partner · 1 January 1986Long-standing partnership with UC Davis Student Housing and Dining Services to administer the annual Davis Apartment Vacancy and Rental Rate Survey, now in its 50th iteration (2025). BAE has conducted this survey for over 10 years, providing comprehensive market-wide insights to UC Davis and community stakeholders.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• HR&A Advisors: Real estate and economic development advisory firm providing market analysis, feasibility, fiscal impact, and P3 advisory to public agencies and developers. Closest direct competitor to BAE, with overlapping service areas (affordable housing, TOD, revitalization) and a similar public-sector client base, though typically engaged on larger engagements.
• Keyser Marston Associates: Real estate and economic development consulting firm specializing in affordable housing feasibility, fiscal impact analysis, and public-private partnerships. Strong West Coast presence and similar boutique profile make it one of BAE's most direct competitors.
• Economic & Planning Systems (EPS): Real estate economics and public finance consulting firm focused on feasibility, fiscal impact, and economic analysis for public and private clients. Comparable service mix and clientele, including affordable housing and P3 advisory.
• RCLCO: Real estate advisory firm offering market analysis, feasibility, and economic impact studies for large-scale residential, mixed-use, and TOD projects. Comparable urban economics focus but typically positioned on larger master-planned engagements.
• TischlerBise: Fiscal impact analysis and public-finance consulting firm serving municipalities and developers nationwide. Comparable methodology in fiscal impact and cost-revenue modeling, though narrower focus than BAE's broader urban economics practice.
• Strategic Economics: Urban economics and real estate consulting firm based in the San Francisco Bay Area, with comparable practice areas including housing market analysis, TOD, and downtown revitalization. Direct geographic and service-line overlap.
• Concord Group: Real estate advisory firm specializing in feasibility, market analysis, and public-private partnership structuring. Comparable urban real estate focus with similar public-sector client base.

Broad incumbents

• AECOM: Global engineering and professional services firm with a major urban planning, economics, and real estate advisory practice. Competes on large multidisciplinary engagements where BAE often serves as a sub-consultant.
• WSP: Global professional services firm with a planning and economics practice that competes for municipal and TOD master-planning engagements at a much larger scale than BAE.

Emerging players

• Dover, Kohl & Partners: Town planning firm with deep expertise in community revitalization, TOD, and form-based codes. Adjacent competitor on planning-heavy engagements where BAE's economics-led approach complements their urban design work.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/bae_economics
• Facebookfacebook.com/BAE.urban.economics
• LinkedInlinkedin.com/company/bay-area-economics

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BAE URBAN ECONOMICS