FORM 10-QSB--QUARTERLY OR TRANSITIONAL REPORT UNDER SECTION 13 OR 15(d) OF
                        THE SECURITIES EXCHANGE ACT OF 1934
                        Quarterly or Transitional Report



                      U.S. SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                   Form 10-QSB

(Mark One)
[X] QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934

                   For the quarterly period ended March 31, 2001


[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
    ACT OF 1934


                For the transition period from _________to _________

                         Commission file number 0-13418


                       CENTURY PROPERTIES GROWTH FUND XXII
       (Exact name of small business issuer as specified in its charter)



         California                                              94-2939418
(State or other jurisdiction of                               (I.R.S. Employer
 incorporation or organization)                              Identification No.)

                          55 Beattie Place, PO Box 1089
                        Greenville, South Carolina 29602
                      (Address of principal executive offices)

                                 (864) 239-1000
                           (Issuer's telephone number)


Check  whether the issuer (1) filed all reports  required to be filed by Section
13 or 15(d) of the  Exchange  Act  during the  preceding  12 months (or for such
shorter period that the  registrant was required to file such reports),  and (2)
has been subject to such filing requirements for the past 90 days. Yes X No___



<PAGE>



                         PART I - FINANCIAL INFORMATION


ITEM 1.     FINANCIAL STATEMENTS

a)

                       CENTURY PROPERTIES GROWTH FUND XXII
                           CONSOLIDATED BALANCE SHEET
                                   (Unaudited)
                          (in thousands, except unit data)

                                 March 31, 2001

<TABLE>
<CAPTION>


Assets
<S>                                                                         <C>
   Cash and cash equivalents                                                $ 1,747
   Receivables and deposits                                                   1,419
   Restricted escrows                                                           521
   Other assets                                                               1,210
   Investment properties:
      Land                                                   $ 14,396
      Buildings and related personal property                 125,234
                                                              139,630
      Less accumulated depreciation                           (66,983)       72,647
                                                                           $ 77,544
Liabilities and Partners' (Deficit) Capital
Liabilities
   Accounts payable                                                          $ 546
   Tenant security deposit liabilities                                          399
   Accrued property taxes                                                     1,064
   Other liabilities                                                            649
   Mortgage notes payable                                                    71,491

Partners' (Deficit) Capital
   General partner                                           $ (8,282)
   Limited partners (82,848 units issued and
      outstanding)                                             11,677         3,395
                                                                           $ 77,544




            See Accompanying Notes to Consolidated Financial Statements

</TABLE>

<PAGE>

b)

                       CENTURY PROPERTIES GROWTH FUND XXII
                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)
                          (in thousands, except unit data)

<TABLE>
<CAPTION>


                                                            Three Months Ended
                                                                March 31,
                                                          2001              2000
Revenues:
<S>                                                      <C>               <C>
   Rental income                                         $5,477            $5,448
   Other income                                             350               254
   Casualty gain (Note D)                                    74                --
      Total revenues                                      5,901             5,702

Expenses:
   Operating                                              1,828             1,800
   General and administrative                               139                89
   Depreciation                                           1,246             1,171
   Interest                                               1,447             1,454
   Property taxes                                           534               539
      Total expenses                                      5,194             5,053

Net income                                                $ 707            $ 649

Net income allocated to general partner                   $ 84              $ 77
Net income allocated to limited partners                    623               572

                                                          $ 707            $ 649

Net income per limited partnership unit                  $ 7.52            $ 6.90

Distributions per limited partnership unit               $17.43            $11.71

            See Accompanying Notes to Consolidated Financial Statements

</TABLE>

<PAGE>
c)

                        CENTURY PROPERTIES GROWTH FUND XXII
          CONSOLIDATED STATEMENT OF CHANGES IN PARTNERS' (DEFICIT) CAPITAL
                                   (Unaudited)
                          (in thousands, except unit data)

<TABLE>
<CAPTION>


                                     Limited
                                   Partnership    General      Limited
                                      Units       Partner      Partners      Total

<S>                                   <C>           <C>        <C>          <C>
Original capital contributions        82,848        $ --       $82,848      $82,848

Partners' (deficit) capital at
   December 31, 2000                  82,848      $(8,173)     $12,498      $ 4,325

Net income for the three months
   ended March 31, 2001                   --           84          623          707

Distributions to partners                 --         (193)      (1,444)      (1,637)

Partners' (deficit) capital at
   March 31, 2001                     82,848      $(8,282)     $11,677      $ 3,395


            See Accompanying Notes to Consolidated Financial Statements
</TABLE>


<PAGE>

d)

                       CENTURY PROPERTIES GROWTH FUND XXII
                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)
                                   (in thousands)

<TABLE>
<CAPTION>

                                                                Three Months Ended
                                                                       March 31,
                                                                 2001         2000
Cash flows from operating activities:
<S>                                                              <C>          <C>
  Net income                                                     $ 707        $ 649
  Adjustments to reconcile net income to net cash
   provided by operating activities:
   Depreciation                                                   1,246        1,171
   Amortization of loan costs                                        53           52
   Casualty gain                                                    (74)          --
   Change in accounts:
      Receivables and deposits                                      362          (56)
      Other assets                                                   (8)          66
      Accounts payable                                              175           76
      Tenant security deposit liabilities                            (1)           3
      Accrued property taxes                                        (51)        (299)
      Other liabilities                                            (190)        (179)
       Net cash provided by operating activities                  2,219        1,483

Cash flows from investing activities:
  Net withdrawals from (deposits to) restricted escrows               9          (88)
  Property improvements and replacements                           (580)        (614)
  Insurance proceeds received                                       104           --
       Net cash used in investing activities                       (467)        (702)

Cash flows used in financing activities:
  Mortgage principal payments                                      (133)        (191)
  Distributions to partners                                      (1,637)      (1,100)
       Net cash used in financing activities                     (1,770)      (1,291)

Net decrease in cash and cash equivalents                           (18)        (510)

Cash and cash equivalents at beginning of period                  1,765        3,653
Cash and cash equivalents at end of period                      $ 1,747      $ 3,143

Supplemental disclosure of cash flow information:
  Cash paid for interest                                         $ 984       $ 1,402

            See Accompanying Notes to Consolidated Financial Statements

</TABLE>

<PAGE>

e)

                       CENTURY PROPERTIES GROWTH FUND XXII
                     NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)


Note A - Basis of Presentation

The  accompanying   unaudited   consolidated  financial  statements  of  Century
Properties  Growth  Fund  XXII (the  "Partnership"  or  "Registrant")  have been
prepared in accordance with generally accepted accounting principles for interim
financial  information and with the  instructions to Form 10-QSB and Item 310(b)
of Regulation S-B.  Accordingly,  they do not include all of the information and
footnotes  required by generally  accepted  accounting  principles  for complete
financial  statements.  In the  opinion of Fox  Capital  Management  Corporation
("FCMC" or the  "Managing  General  Partner"),  a  California  corporation,  the
managing general partner of the Partnership's  general partner,  all adjustments
(consisting  of  normal  recurring  accruals)  considered  necessary  for a fair
presentation  have been included.  Operating  results for the three month period
ended March 31, 2001, are not necessarily  indicative of the results that may be
expected for the fiscal year ending December 31, 2001. For further  information,
refer to the consolidated financial statements and footnotes thereto included in
the  Partnership's  Annual  Report on Form  10-KSB  for the  fiscal  year  ended
December 31, 2000. The Managing  General Partner is a wholly owned subsidiary of
Apartment  Investment and Management Company  ("AIMCO"),  a publicly traded real
estate investment trust.

Principles of Consolidation

The Partnership's consolidated financial statements include the accounts of Wood
Creek CPGF 22, L.P., Plantation Creek CPGF 22, L.P., Stoney Creek CPGF 22, L.P.,
Four Winds CPGF 22, L.P.,  Coopers Point CPGF 22, L.P.,  Hampton Greens CPGF 22,
L.P.,  Century Stoney  Greens,  L.P. and Copper Mill CPGF 22, L.P., in which the
Partnership  owns 100% interest in each of these  partnerships.  The Partnership
has the ability to control the major  operating and financial  policies of these
partnerships. All interpartnership transactions have been eliminated.

Segment Reporting

Statement of Financial  Accounting Standards ("SFAS") No. 131, "Disclosure about
Segments of an Enterprise and Related Information" established standards for the
way that public business enterprises report information about operating segments
in annual  financial  statements  and  requires  that those  enterprises  report
selected  information about operating segments in interim financial reports.  It
also establishes  standards for related disclosures about products and services,
geographic  areas,  and  major  customers.  As  defined  in SFAS  No.  131,  the
Partnership  has only one  reportable  segment.  The  Managing  General  Partner
believes that  segment-based  disclosures  will not result in a more  meaningful
presentation than the consolidated financial statements as currently presented.

Note B - Transactions with Affiliated Parties

The  Partnership  has no employees  and is  dependent  on the  Managing  General
Partner  and  its  affiliates  for  the  management  and  administration  of all
partnership activities.  The Partnership Agreement provides for certain payments
to affiliates for services and as reimbursement of certain expenses  incurred by
affiliates on behalf of the Partnership.

The following  transactions with affiliates of the Managing General Partner were
incurred during the three month periods ended March 31, 2001 and 2000:

                                                                   2001    2000
                                                                  (in thousands)
 Property management fees (included in operating expenses)         $300    $291
 Reimbursement for services of affiliates (included in
   operating and general and administrative expenses
   and investment properties)                                        58      42
 Partnership management incentive allocation (included in
   general partner deficit)                                         164     110

Affiliates of the Managing  General  Partner are entitled to receive 5% of gross
receipts from all of the Partnership's  properties as compensation for providing
property   management   services.   The  Partnership  paid  to  such  affiliates
approximately  $300,000  and  $291,000 for the three months ended March 31, 2001
and 2000, respectively.

Affiliates of the Managing General Partner received reimbursement of accountable
administrative  expenses amounting to approximately  $58,000 and $42,000 for the
three months ended March 31, 2001 and 2000, respectively.

Pursuant  to  the  Partnership  Agreement,  for  managing  the  affairs  of  the
Partnership,  the Managing  General Partner is entitled to receive a Partnership
management fee equal to 10% of the  Partnership's  adjusted cash from operations
as  distributed.  Approximately  $164,000 of  Partnership  management  incentive
allocation was paid along with the distribution  from operations made during the
three months ended March 31, 2001. During the three months ended March 31, 2000,
approximately  $110,000 of Partnership management incentive allocation was paid.
The  incentive  allocation  is accounted  for as a  distribution  to the general
partner, in accordance with the terms of the Partnership Agreement.

An  affiliate  of  the  Managing  General  Partner  has  made  available  to the
Partnership  a  credit  line  of  up to  $150,000  per  property  owned  by  the
Partnership.  The Partnership has no outstanding  amounts due under this line of
credit. Based on present plans, the Managing General Partner does not anticipate
the need to borrow in the near future. Other than cash and cash equivalents, the
line of credit is the Partnership's only unused source of liquidity.

AIMCO and its affiliates owned 44,531.50 limited partnership units (the "Units")
in the Partnership  representing  53.75% of the  outstanding  units at March 31,
2001. A number of these Units were  acquired  pursuant to tender  offers made by
AIMCO or its  affiliates.  It is possible that AIMCO or its affiliates will make
one  or  more  additional  offers  to  acquire  additional  limited  partnership
interests in the  Partnership for cash or in exchange for units in the operating
partnership of AIMCO.  Under the Partnership  Agreement,  unitholders  holding a
majority of the Units are  entitled to take action with  respect to a variety of
matters.  As a result of its ownership of 53.75% of the outstanding Units, AIMCO
is in a  position  to  influence  all  voting  decisions  with  respect  to  the
Registrant. When voting on matters, AIMCO would in all likelihood vote the Units
it acquired  in a manner  favorable  to the  interest  of the  Managing  General
Partner because of its affiliation with the Managing  General Partner.  However,
with respect to 17,023.5 Units, such affiliates are required to vote such Units:
(i) against any increase in compensation payable to the Managing General Partner
or to  affiliates;  and  (ii)  on  all  other  matters  submitted  by it or  its
affiliates, in proportion to the votes cast by non-tendering unitholders. Except
for the foregoing,  no other limitations are imposed on such affiliates' ability
to influence voting decisions with respect to the Partnership.

Note C - Distribution

During the three  months  ended  March 31,  2001,  the  Partnership  distributed
approximately  $1,637,000  (approximately  $1,444,000 to the limited partners or
$17.43 per limited  partnership  unit) from operations.  During the three months
ended March 31,  2000,  the  Partnership  distributed  approximately  $1,100,000
(approximately $970,000 or $11.71 per limited partnership unit) from operations.
Subsequent  to  March  31,  2001,  the  Partnership  distributed   approximately
$1,038,000 (approximately $916,000 to the limited partners or $11.06 per limited
partnership unit) from operations.

Note D - Casualty Gain

During  the  three  months  ended  March  31,  2001,  a  net  casualty  gain  of
approximately $74,000 was recorded at Stoney Creek Apartments. The casualty gain
related to roof damage  caused by a hailstorm in 2000.  The gain was a result of
the  receipt  of  insurance   proceeds  of  approximately   $104,000  offset  by
approximately $30,000 of undepreciated fixed assets being written off.

Note E - Legal Proceedings

In March 1998, several putative unit holders of limited partnership units of the
Partnership  commenced an action  entitled  Rosalie  Nuanes,  et al. v. Insignia
Financial  Group,  Inc., et al. in the Superior Court of the State of California
for the County of San Mateo. The plaintiffs  named as defendants,  among others,
the  Partnership,  its Managing  General Partner and several of their affiliated
partnerships  and corporate  entities.  The action  purports to assert claims on
behalf of a class of limited  partners and derivatively on behalf of a number of
limited  partnerships  (including  the  Partnership)  which are named as nominal
defendants,  challenging,  among other things,  the  acquisition of interests in
certain general partner entities by Insignia Financial Group, Inc.  ("Insignia")
and entities which were, at one time, affiliates of Insignia; past tender offers
by the Insignia affiliates to acquire limited  partnership units;  management of
the  partnerships  by the  Insignia  affiliates;  and the Insignia  Merger.  The
plaintiffs  seek  monetary  damages and  equitable  relief,  including  judicial
dissolution of the  Partnership.  On June 25, 1998, the Managing General Partner
filed a motion  seeking  dismissal of the action.  In lieu of  responding to the
motion, the plaintiffs filed an amended complaint.  The Managing General Partner
filed demurrers to the amended complaint which were heard February 1999.

Pending the ruling on such  demurrers,  settlement  negotiations  commenced.  On
November 2, 1999,  the parties  executed and filed a Stipulation  of Settlement,
settling claims, subject to court approval, on behalf of the Partnership and all
limited partners who owned units as of November 3, 1999. Preliminary approval of
the  settlement  was obtained on November 3, 1999 from the Court,  at which time
the Court set a final  approval  hearing for  December  10,  1999.  Prior to the
December  10,  1999  hearing,  the  Court  received  various  objections  to the
settlement, including a challenge to the Court's preliminary approval based upon
the alleged lack of authority of prior lead counsel to enter the settlement.  On
December 14, 1999, the Managing  General  Partner and its affiliates  terminated
the  proposed  settlement.  In  February  2000,  counsel  for some of the  named
plaintiffs filed a motion to disqualify plaintiff's lead and liaison counsel who
negotiated  the  settlement.  On June  27,  2000,  the  Court  entered  an order
disqualifying  them  from the case and an  appeal  was  taken  from the order on
October 5, 2000. On December 4, 2000, the Court  appointed the law firm of Lieff
Cabraser  Heimann & Bernstein  LLP as new lead  counsel for  plaintiffs  and the
putative class.  Plaintiffs filed a third amended complaint on January 19, 2001.
On March 2, 2001,  the  Managing  General  Partner  and its  affiliates  filed a
demurrer to the third amended  complaint.  The demurrer is scheduled to be heard
on May 14,  2001.  The Court has also  scheduled a hearing on a motion for class
certification  for August 27, 2001.  Plaintiffs must file their motion for class
certification no later than June 15, 2001. The Managing General Partner does not
anticipate  that  costs  associated  with  this  case  will be  material  to the
Partnership's overall operations.

The  Partnership is unaware of any other pending or outstanding  litigation that
is not of a routine nature arising in the ordinary course of business.

ITEM 2.     MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATIONS

The  matters  discussed  in this Form  10-QSB  contain  certain  forward-looking
statements  and  involve  risks and  uncertainties  (including  changing  market
conditions,   competitive  and  regulatory   matters,   etc.)  detailed  in  the
disclosures  contained  in this  Form  10-QSB  and the  other  filings  with the
Securities and Exchange  Commission made by the  Partnership  from time to time.
The  discussion  of  the  Partnership's  business  and  results  of  operations,
including  forward-looking  statements pertaining to such matters, does not take
into account the effects of any changes to the Registrant's business and results
of operations.  Accordingly,  actual results could differ  materially from those
projected in the forward-looking  statements as a result of a number of factors,
including those identified herein.

The Partnership's investment properties consist of nine apartment complexes. The
following table sets forth the average  occupancy for each of the properties for
the three months ended March 31, 2001 and 2000:

                                                   Average Occupancy
      Property                                      2001       2000

      Cooper's Pointe Apartments (1)                88%        95%
         North Charleston, South Carolina
      Copper Mill Apartments (2)                    98%        95%
         Richmond, Virginia
      Four Winds Apartments (3)                     90%        97%
         Overland Park, Kansas
      Autumn Run Apartments                         96%        95%
         Naperville, Illinois
      Plantation Creek Apartments                   91%        93%
         Atlanta, Georgia
      Wood Creek Apartments (4)                     97%        94%
         Mesa, Arizona
      Promontory Point Apartments (5)               94%        97%
         Austin, Texas
      Hampton Greens Apartments (3)                 90%        97%
         Dallas, Texas
      Stoney Creek Apartments (3)                   94%        98%
         Dallas, Texas

(1)   The decrease in occupancy at Cooper's  Point  Apartments is due to a large
      number of military  transfers out of the North  Charleston area as well as
      tenants purchasing homes.
(2)   The  increase in  occupancy  at Copper Mill  Apartments  is due to a large
      company in the Richmond area hiring a significant  number of new employees
      during the first quarter of 2001.
(3)   The  decreases  in  occupancy  at Four Winds  Apartments,  Hampton  Greens
      Apartments and Stoney Creek Apartments are due to increased competition in
      the complexes' respective areas.
(4)   The increase in occupancy at Wood Creek  Apartments  is due to an improved
      maintenance program enticing tenants to renew their leases.
(5)   The decrease in occupancy at  Promontory  Point  Apartments  is due to the
      loss of high technology jobs in the Austin area.

Results of Operations

The  Partnership's  net income for the three  months  ended  March 31,  2001 was
approximately  $707,000 as compared to approximately $649,000 for the comparable
period in 2000.  The increase in net income is  attributable  to the increase in
total revenues offset by an increase in total expenses. Total revenues increased
due to an increase in rental revenue, other income and a casualty gain at Stoney
Creek Apartments  discussed below.  Rental revenue increased due to increases in
rental  rates at all of the  investment  properties  which more than  offset the
decrease  in  occupancy  at six  of  the  investment  properties.  Other  income
increased due to increases in utility  reimbursements  at all of the  investment
properties, corporate housing revenue at Copper Mill, and interest income at all
of the investment properties.

During  the  three  months  ended  March  31,  2001,  a  net  casualty  gain  of
approximately $74,000 was recorded at Stoney Creek Apartments. The casualty gain
related to roof damage  caused by a hailstorm in 2000.  The gain was a result of
the  receipt  of  insurance   proceeds  of  approximately   $104,000  offset  by
approximately $30,000 of undepreciated fixed assets being written-off.

Total  expenses  increased  due to an increase in  depreciation  and general and
administrative   expenses.   Depreciation  expense  increased  due  to  property
improvements and replacements during the past twelve months.

General and  administrative  expenses increased for the three months ended March
31,  2001  compared to the three  months  ended March 31, 2000 as a result of an
increase  in  professional  fees  associated  with  the  administration  of  the
Partnership.   Included  in  the  general  and   administrative   expenses   are
reimbursements  to the Managing  General  Partner  allowed under the Partnership
Agreement.   In  addition,   cost  associated  with  the  quarterly  and  annual
communications  with investors and regulatory  agencies and the annual audit and
appraisals required by the Partnership Agreement are also included.

As part of the ongoing  business plan of the  Partnership,  the Managing General
Partner monitors the rental market  environment of its investment  properties to
assess the feasibility of increasing rents,  maintaining or increasing occupancy
levels and protecting  the  Partnership  from increases in expenses.  As part of
this plan, the Managing General Partner attempts to protect the Partnership from
the burden of  inflation-related  increases in expenses by increasing  rents and
maintaining a high overall  occupancy  level.  However,  due to changing  market
conditions,  which  can  result  in the use of  rental  concessions  and  rental
reductions to offset softening market conditions, there is no guarantee that the
Managing General Partner will be able to sustain such a plan.

Capital Resources and Liquidity

At  March  31,  2001,  the  Partnership   had  cash  and  cash   equivalents  of
approximately  $1,747,000 as compared to  approximately  $3,143,000 at March 31,
2000.  For the three  months  ended March 31,  2001,  cash and cash  equivalents
decreased  approximately  $18,000 from the Partnership's year ended December 31,
2000.  The  decrease  in  cash  and  cash  equivalents  is due to  approximately
$1,770,000  and $467,000 of cash used in  financing  and  investing  activities,
respectively,  which was partially  offset by  approximately  $2,219,000 of cash
provided by operating activities.  Cash used in investing activities consists of
property  improvements  and  replacements  which  were  partially  offset by net
withdrawals  from  restricted  escrows  maintained  by the mortgage  lenders and
insurance  proceeds  from a casualty at Stoney  Creek  Apartments.  Cash used in
financing  activities  consists  of  principal  payments  made on the  mortgages
encumbering the Partnership's  investment properties and cash distributions made
to the  partners.  The  Partnership  invests  its  working  capital  reserves in
interest bearing accounts.

An  affiliate  of  the  Managing  General  Partner  has  made  available  to the
Partnership  a  credit  line  of  up to  $150,000  per  property  owned  by  the
Partnership.  The Partnership has no outstanding  amounts due under this line of
credit. Based on present plans, the Managing General Partner does not anticipate
the need to borrow in the near future. Other than cash and cash equivalents, the
line of credit is the Partnership's only unused source of liquidity.

The sufficiency of existing  liquid assets to meet future  liquidity and capital
expenditure   requirements   is  directly   related  to  the  level  of  capital
expenditures  required at the  properties  to  adequately  maintain the physical
assets and other operating needs of the  Partnership.  Such assets are currently
thought to be  sufficient  for any  near-term  needs of the  Partnership  and to
comply with Federal, state, and local legal and regulatory requirements. Capital
improvements  planned  for each of the  Partnership's  properties  are  detailed
below.

Cooper's Pointe

Approximately  $53,000 has been  budgeted for capital  improvements  at Cooper's
Pointe consisting  primarily of appliance and floor covering  replacements.  The
Partnership completed  approximately $22,000 in capital expenditures at Cooper's
Pointe Apartments as of March 31, 2001,  consisting  primarily of floor covering
replacements  and  interior  decoration.  These  improvements  were  funded from
operating cash flow.  Additional  improvements may be considered and will depend
on the physical  condition of the property as well as  replacement  reserves and
anticipated cash flow generated by the property.

Copper Mill

Approximately  $86,000 has been budgeted for capital improvements at Cooper Mill
consisting primarily of floor covering replacement and interior decoration.  The
Partnership  completed  approximately  $14,000 in capital expenditures at Cooper
Mill  Apartments  during  the three  months  ended  March 31,  2001,  consisting
primarily  of  floor  covering  replacements  and  interior  decoration.   These
improvements were funded from operating cash flow.  Additional  improvements may
be considered and will depend on the physical  condition of the property as well
as replacement reserves and anticipated cash flow generated by the property.

Four Winds

Approximately  $337,000 has been budgeted for capital improvements at Four Winds
consisting   primarily  of  appliance,   floor  covering  and  air  conditioning
replacements,  and exterior painting.  The Partnership  completed  approximately
$39,000 in capital expenditures at Four Winds Apartments during the three months
ended March 31, 2001,  consisting  primarily of floor covering  replacements and
appliance   replacements.   These  improvements  were  funded  from  replacement
reserves.  Additional  improvements  may be  considered  and will  depend on the
physical  condition  of  the  property  as  well  as  replacement  reserves  and
anticipated cash flow generated by the property.

Autumn Run

Approximately  $88,000 has been budgeted for capital  improvements at Autumn Run
consisting primarily of appliance replacements,  floor covering replacements and
HVAC  units.  The  Partnership   completed   approximately  $14,000  in  capital
expenditures  at Autumn Run  Apartments  during the three months ended March 31,
2001,   consisting  primarily  of  floor  covering   replacements  and  interior
decoration. These improvements were funded from replacement reserves. Additional
improvements may be considered and will depend on the physical  condition of the
property as well as replacement  reserves and anticipated cash flow generated by
the property.

Plantation Creek

Approximately  $152,000 has been budgeted for capital improvements at Plantation
Creek consisting primarily of structural  improvements,  clubhouse  renovations,
plumbing  enhancements  and  floor  covering  and  appliance  replacements.  The
Partnership  completed   approximately   $295,000  in  capital  expenditures  at
Plantation  Creek  Apartments  during the three  months  ended  March 31,  2001,
consisting   primarily   of   structural   improvements,   carpet  and  flooring
replacements,  and appliance  replacements.  These improvements were funded from
operating cash flow and replacement  reserves.  Additional  improvements  may be
considered and will depend on the physical  condition of the property as well as
replacement reserves and anticipated cash flow generated by the property.

Wood Creek

Approximately  $210,000 has been budgeted for capital improvements at Wood Creek
consisting  primarily  of  fencing  enhancements,   ground  lighting,   plumbing
fixtures,   air  conditioning  units  and  floor  covering   replacements.   The
Partnership  completed  approximately  $96,000 in capital  expenditures  at Wood
Creek  Apartments  during the three  months  ended  March 31,  2001,  consisting
primarily of floor covering  replacements and fencing.  These  improvements were
funded from operating cash flow.  Additional  improvements may be considered and
will depend on the physical  condition  of the  property as well as  replacement
reserves and anticipated cash flow generated by the property.

Promontory Point

Approximately  $69,000 has been budgeted for capital  improvements at Promontory
Point  consisting  primarily of appliance,  floor covering and air  conditioning
replacements.   The  Partnership  completed  approximately  $23,000  in  capital
expenditures at Promontory Point Apartments  during the three months ended March
31, 2001,  consisting  primarily of floor  covering and appliance  replacements.
These improvements were funded from operating cash flow. Additional improvements
may be considered  and will depend on the physical  condition of the property as
well  as  replacement  reserves  and  anticipated  cash  flow  generated  by the
property.

Hampton Greens

Approximately  $174,000 has been  budgeted for capital  improvements  at Hampton
Greens  consisting  primarily  of floor  covering  and  appliance  replacements,
interior decoration and fencing. The Partnership completed approximately $52,000
in capital  expenditures  at Hampton Greens  Apartments  during the three months
ended March 31,  2001,  consisting  primarily  of floor  covering  replacements,
interior  decoration  and water  heaters.  These  improvements  were funded from
operating cash flow.  Additional  improvements may be considered and will depend
on the physical  condition of the property as well as  replacement  reserves and
anticipated cash flow generated by the property.

Stoney Creek

Approximately  $209,000  has been  budgeted for capital  improvements  at Stoney
Creek consisting  primarily of floor covering,  air conditioning and counter top
replacements and other  improvements.  The Partnership  completed  approximately
$25,000 in capital  expenditures  at Stoney  Creek  Apartments  during the three
months ended March 31, 2001, consisting primarily of appliance  replacements and
floor covering replacements.  These improvements were funded from operating cash
flow. Additional  improvements may be considered and will depend on the physical
condition of the property as well as replacement  reserves and anticipated  cash
flow generated by the property.

The additional  capital  expenditures will be incurred only if cash is available
from operations or from Partnership  reserves.  To the extent that such budgeted
capital improvements are completed,  the Partnership's  distributable cash flow,
if any, may be adversely affected at least in the short term.

The Partnership's  current assets are thought to be sufficient for any near-term
needs  (exclusive  of capital  improvements)  of the  Partnership.  The mortgage
indebtedness  of  approximately  $71,491,000  is being  amortized  over  varying
periods with balloon payments due over periods ranging from November 2003 to May
2008.  The Managing  General  Partner will attempt to refinance  such  remaining
indebtedness  and/or sell the properties  prior to such maturity  dates.  If the
properties cannot be refinanced or sold for a sufficient amount, the Partnership
will risk losing such properties through foreclosure.

During the three  months  ended  March 31,  2001,  the  Partnership  distributed
approximately  $1,637,000  (approximately  $1,444,000 to the limited partners or
$17.43 per limited  partnership  unit) from operations.  During the three months
ended March 31,  2000,  the  Partnership  distributed  approximately  $1,100,000
(approximately $970,000 or $11.71 per limited partnership unit) from operations.
Subsequent  to  March  31,  2001,  the  Partnership  distributed   approximately
$1,038,000 (approximately $916,000 to the limited partners or $11.06 per limited
partnership unit) from operations.  Future cash distributions will depend on the
levels of cash generated from operations, the availability of cash reserves, and
the  timing  of  debt  maturities,  property  sales,  and/or  refinancings.  The
Partnership's distribution policy is reviewed on a quarterly basis. There can be
no assurance that the Partnership will generate sufficient funds from operations
after required capital  improvements to permit  additional  distributions to its
partners during the remainder of 2001 or subsequent periods.

AIMCO and its affiliates owned 44,531.50 limited partnership units (the "Units")
in the Partnership  representing  53.75% of the  outstanding  units at March 31,
2001. A number of these Units were  acquired  pursuant to tender  offers made by
AIMCO or its  affiliates.  It is possible that AIMCO or its affiliates will make
one  or  more  additional  offers  to  acquire  additional  limited  partnership
interests in the  Partnership for cash or in exchange for units in the operating
partnership of AIMCO.  Under the Partnership  Agreement,  unitholders  holding a
majority of the Units are  entitled to take action with  respect to a variety of
matters.  As a result of its ownership of 53.75% of the outstanding Units, AIMCO
is in a  position  to  influence  all  voting  decisions  with  respect  to  the
Registrant. When voting on matters, AIMCO would in all likelihood vote the Units
it acquired  in a manner  favorable  to the  interest  of the  Managing  General
Partner because of its affiliation with the Managing  General Partner.  However,
with respect to 17,023.5 Units, such affiliates are required to vote such Units:
(i) against any increase in compensation payable to the Managing General Partner
or to  affiliates;  and  (ii)  on  all  other  matters  submitted  by it or  its
affiliates, in proportion to the votes cast by non-tendering unitholders. Except
for the foregoing,  no other limitations are imposed on such affiliates' ability
to influence voting decisions with respect to the Partnership.



<PAGE>


                           PART II - OTHER INFORMATION


ITEM 1.     LEGAL PROCEEDINGS

In March 1998, several putative unit holders of limited partnership units of the
Partnership  commenced an action  entitled  Rosalie  Nuanes,  et al. v. Insignia
Financial  Group,  Inc., et al. in the Superior Court of the State of California
for the County of San Mateo. The plaintiffs  named as defendants,  among others,
the  Partnership,  its Managing  General Partner and several of their affiliated
partnerships  and corporate  entities.  The action  purports to assert claims on
behalf of a class of limited  partners and derivatively on behalf of a number of
limited  partnerships  (including  the  Partnership)  which are named as nominal
defendants,  challenging,  among other things,  the  acquisition of interests in
certain general partner entities by Insignia Financial Group, Inc.  ("Insignia")
and entities which were, at one time, affiliates of Insignia; past tender offers
by the Insignia affiliates to acquire limited  partnership units;  management of
the  partnerships  by the  Insignia  affiliates;  and the Insignia  Merger.  The
plaintiffs  seek  monetary  damages and  equitable  relief,  including  judicial
dissolution of the  Partnership.  On June 25, 1998, the Managing General Partner
filed a motion  seeking  dismissal of the action.  In lieu of  responding to the
motion, the plaintiffs filed an amended complaint.  The Managing General Partner
filed demurrers to the amended complaint which were heard February 1999.

Pending the ruling on such  demurrers,  settlement  negotiations  commenced.  On
November 2, 1999,  the parties  executed and filed a Stipulation  of Settlement,
settling claims, subject to court approval, on behalf of the Partnership and all
limited partners who owned units as of November 3, 1999. Preliminary approval of
the  settlement  was obtained on November 3, 1999 from the Court,  at which time
the Court set a final  approval  hearing for  December  10,  1999.  Prior to the
December  10,  1999  hearing,  the  Court  received  various  objections  to the
settlement, including a challenge to the Court's preliminary approval based upon
the alleged lack of authority of prior lead counsel to enter the settlement.  On
December 14, 1999, the Managing  General  Partner and its affiliates  terminated
the  proposed  settlement.  In  February  2000,  counsel  for some of the  named
plaintiffs filed a motion to disqualify plaintiff's lead and liaison counsel who
negotiated  the  settlement.  On June  27,  2000,  the  Court  entered  an order
disqualifying  them  from the case and an  appeal  was  taken  from the order on
October 5, 2000. On December 4, 2000, the Court  appointed the law firm of Lieff
Cabraser  Heimann & Bernstein  LLP as new lead  counsel for  plaintiffs  and the
putative class.  Plaintiffs filed a third amended complaint on January 19, 2001.
On March 2, 2001,  the  Managing  General  Partner  and its  affiliates  filed a
demurrer to the third amended  complaint.  The demurrer is scheduled to be heard
on May 14,  2001.  The Court has also  scheduled a hearing on a motion for class
certification  for August 27, 2001.  Plaintiffs must file their motion for class
certification no later than June 15, 2001. The Managing General Partner does not
anticipate  that  costs  associated  with  this  case  will be  material  to the
Partnership's overall operations.

ITEM 6.     EXHIBITS AND REPORTS ON FORM 8-K

            a)    Exhibits:

                  None.

            b)    Reports on Form 8-K:

                  None filed during the quarter ended March 31, 2001.




<PAGE>




                                   SIGNATURES


In accordance with the  requirements of the Exchange Act, the Registrant  caused
this  report to be  signed on its  behalf  by the  undersigned,  thereunto  duly
authorized.



                                    CENTURY PROPERTIES GROWTH FUND XXII


                                    By:   FOX PARTNERS IV
                                          Its General Partner


                                    By:   FOX CAPITAL MANAGEMENT CORPORATION
                                          Managing General Partner


                                    By:   /s/Patrick J. Foye
                                          Patrick J. Foye
                                          Executive Vice President


                                    By:   /s/Martha L. Long
                                          Martha L. Long
                                          Senior Vice President
                                          and Controller


                                    Date: