Community Economics

What Community Economics does

Community Economics, Inc. (CEI) is a 48-year-old Oakland-based nonprofit consulting firm that provides technical assistance in the development and financing of permanently affordable rental housing. Its core clients are nonprofit housing developers (ranging from small social-service organizations undertaking their first project to large regional and national developers) and public agencies, primarily in California with selective engagements in Washington and Hawaii. CEI's services center on structuring complex multi-layered project financing stacks that combine federal Low Income Housing Tax Credits (LIHTC), state tax credits, tax-exempt bonds, HUD programs, state initiatives such as VHHP and No Place Like Home (NPLH), and conventional debt; assisting with investor identification and negotiation; conducting financial feasibility analysis; and advising on property acquisition, Year 15 buybacks, resyndication, and preservation of existing affordable housing.

CEI's service portfolio comprises seven consulting lines: Rental Housing Consulting, Tax Credit Financing, Supportive Housing, Buyback of Year 15 Projects, Resyndication and Preservation, Public Agency Assistance, and Training Services. The firm does not operate a software platform or technology product; its offering is delivered through individualized consulting, on-site technical assistance, workshops, and policy advocacy work. Pricing is quote-based and project-specific rather than published, reflecting the bespoke nature of each engagement.

CEI is a small professional team of approximately 5-7 staff led by Executive Director Elissa Dennis (joined 1990), Senior Consultant Diana Downton (joined 2014), Consultants Allyson Ujimori (joined 2023) and Andrea Papanastassiou (joined 2026), Office Manager Linda Rivers (joined 1989), and Emeritus Joel Rubenzahl (joined 1976). The firm has cumulatively supported over 900 developments producing more than 55,000 affordable homes, and its staff hold board and advisory positions at Housing California, California Coalition for Rural Housing, Non-Profit Housing Association of Northern California, California Tax Reform Association, and other policy organizations that shape state affordable housing programs.

Name

Community Economics

Legal name

Community Economics, Inc.

Website

https://communityeconomics.org

Company type

Private

Founded year

1976

Operating status

Operating

Headcount range

1–10 employees

Short description

Community Economics is a 48-year-old Oakland-based nonprofit consultancy that provides technical assistance to nonprofit developers and public agencies on financing and developing permanently affordable rental housing across California, Washington, and Hawaii.

Ownership category

akta.pro rank

Headquarters

HQ city

Oakland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales

Revenue model

1. Consulting Services: Fee-based consulting services provided to nonprofit housing developers, public agencies, and tenant organizations for affordable housing development and financing technical assistance.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Community Economics, Inc. (CEI) is a nonprofit consulting firm that provides technical assistance to nonprofit housing developers, public agencies, and tenant organizations in the financing and development of permanently affordable rental housing. Services span financial feasibility analysis, structuring of multi-layered project financing combining LIHTC, tax-exempt bonds, HUD and state/local programs, tax credit syndication and investor negotiation, supportive and special needs housing, Year-15 buyouts, resyndication and preservation, public agency advisory, and training.

Product overview

Community Economics (CEI) is a nonprofit consulting firm that provides technical assistance in the development and financing of permanently affordable housing to nonprofit developers, public agencies, and tenant organizations. CEI offers a portfolio of consulting services including Rental Housing Consulting, Tax Credit Financing, Supportive Housing, Buyback of Year 15 Projects, Resyndication & Preservation, Public Agency Assistance, and Training Services. These services are delivered through project-specific technical assistance, customized trainings, and long-term client relationships rather than a software product platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Rental Housing Consulting
• Tax Credit Financing
• Supportive Housing Consulting
• Buyback of Year 15 Projects
• Resyndication & Preservation
• Public Agency Assistance
• Training Services

Quantifiable outcome

• Assisted in production of more than 55,000 affordable homes in over 900 developments
• +1 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered core and secondary.

• Housing CaliforniacoreOthersCEI staff serve on the board of Housing California, participating in policy committees and advocacy efforts. Housing California is a major statewide advocacy organization for affordable housing.
• California Coalition for Rural HousingcoreOthersCEI staff serve on the board of California Coalition for Rural Housing (CCRH). CEI supports CCRH's Internship Program for Diversity in Nonprofit Housing and Community Development, providing training in financial analysis.
• Non-Profit Housing Association of Northern CaliforniacoreOthersCEI staff serve on the board and policy committees of Non-Profit Housing Association of Northern California (NPH). CEI helped create BAHIP program in 2018 and provides training throughout the internship year.
• California Tax Reform AssociationcoreOthersCEI participates on the board of California Tax Reform Association as part of engagement in statewide tax reform efforts, including closing loopholes in commercial property tax collection.
• Southern California Association of Non-Profit HousingsecondaryOthersCEI staff participate in policy committees and policy efforts of SCANPH.
• East Bay Housing OrganizationssecondaryOthersCEI shares office space with EBHO, a strong advocacy voice for affordable housing in the East Bay. EBHO provides resources about ending homelessness, building power, and sharing stories.
• San Diego Housing FederationsecondaryOthersCEI is an active member and participant in policy committees and efforts statewide through San Diego Housing Federation.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Capital Impact Partners: National CDFI providing capital and technical assistance to community development projects, including affordable housing. Overlaps with CEI on advisory services to mission-driven developers.
• Novogradac & Company LLP: National accounting and consulting firm with a dedicated affordable housing and LIHTC practice. Overlaps with CEI on tax credit advisory and feasibility analysis but serves a much broader for-profit and nonprofit client base.
• CohnReznick: Major accounting and advisory firm with a large affordable housing and LIHTC practice serving developers, syndicators, and public agencies. Competes for affordable housing consulting engagements across multiple states.
• Local Initiatives Support Corporation (LISC): National nonprofit CDFI offering affordable housing financing and technical assistance to community developers. Comparable in serving nonprofit developers with TA + financing, though at significantly larger scale than CEI.
• Enterprise Community Partners: One of the largest U.S. affordable housing nonprofits, providing financing, technical assistance, advocacy, and consulting. Competes for the same California/West Coast nonprofit developer clients and has in-house capacity that overlaps with CEI's services.

Direct peers

• Low Income Investment Fund (LIIF): CDFI that finances and provides technical assistance to nonprofits developing affordable housing and community facilities. Closely comparable nonprofit mission and developer-support model, with overlapping California footprint.
• Recap Real Estate Advisors: Specialized affordable housing finance and LIHTC consulting firm serving nonprofit and for-profit developers. Directly comparable on tax-credit syndication, Year 15 buyouts, and preservation advisory — the same core services CEI offers.
• California Housing Partnership Corporation: A California-focused nonprofit that provides policy advocacy, technical assistance, and financing support to affordable housing developers. Most directly comparable peer given overlapping CA focus, nonprofit developers served, and policy/financing advisory work.

Others

• Non-Profit Housing Association of Northern California (NPH): Bay Area advocacy and member services organization for nonprofit housing developers. CEI staff sit on NPH's board; NPH is a peer ecosystem organization rather than a competitor, shaping the demand environment CEI serves.
• National Council of State Housing Agencies (NCSHA): Trade association representing state housing finance agencies. Not a direct competitor but a key ecosystem participant whose members allocate LIHTC and state credits — directly impacting CEI's deal flow.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/community-economics

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 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 Community Economics