SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-K

[X]  Annual Report  pursuant to Section 13 or 15(d) of the  Securities  Exchange
     Act of 1934 for the fiscal year ended December 31, 2000, or

[ ]  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 0-16815
                       -------

              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
             -------------------------------------------------------
             (Exact name of registrant as specified in its charter)

         DELAWARE                                      52-1453513
------------------------------                  ---------------------------
(State or other Jurisdiction of             (I.R.S. Employer Identification No.)
 incorporation or organization)

14160 Dallas Parkway, Suite 300, Dallas, Texas                     75240
----------------------------------------------                     -----
(Address of principal executive offices)                        (Zip Code)

Registrant's telephone number, including area code: (972) 770-5600
                                                     -------------

Securities registered pursuant to Section 12(g) of the Act:

                                Limited Partnership Assignee Interests
                                --------------------------------------
                                         (Title of Class)

Indicate  by check  mark  whether  the  registrant:  (1) has filed  all  reports
required to be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of
1934 during the  preceding  twelve  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 [ ]

Indicate by check mark if disclosure of delinquent  filers  pursuant to Item 405
of Regulation S-K (Section 229.405 of this Chapter) is not contained herein, and
will not be  contained,  to the best of  registrant's  knowledge,  in definitive
proxy or information  statements  incorporated  by reference in Part III of this
Form 10-K or any amendment to this Form 10-K. [ ]

The Registrant's outstanding securities consist of assignee interests in limited
partnership  interests  which have no readily  ascertainable  market value since
there is no  public  trading  market  for  these  securities  on which to base a
calculation of aggregate market value.

Documents incorporated by reference:  None
                                      ----
                                                                    Page 1 of 32
                                                          Exhibit Index: Page 31

                                       1
<PAGE>


              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP

                                 2000 FORM 10-K
                                TABLE OF CONTENTS

<TABLE>
<CAPTION>


PART I                                                                                                  Page
<S>          <C>                                                                                        <C>

Item 1.      Business                                                                                    3
Item 2.      Properties                                                                                  5
Item 3.      Legal Proceedings                                                                           6
Item 4.      Submission of Matters to a Vote of Security Holders                                         7

PART II

Item 5.      Market for the Registrant's Pension Notes and Limited
                Partnership Assignee Interests and Related Partnership Matters                           7
Item 6.      Selected Financial Data                                                                     8
Item 7.      Management's Discussion and Analysis of Financial Condition
                and Results of Operations                                                                8
Item 7A.     Qualitative and Quantitative Disclosure About Market Risk                                  10
Item 8.      Financial Statements and Supplementary Data                                                10

PART III

Item 9.      Changes in and Disagreements with Accountants on
                Accounting and Financial Disclosure                                                     29
Item 10.     Directors and Executive Officers of the Registrant                                         29
Item 11.     Executive Compensation                                                                     30
Item 12.     Security Ownership of Certain Beneficial Owners and
                Management                                                                              30
Item 13.     Certain Relationships and Related Transactions                                             31

PART IV

Item 14.     Exhibits, Financial Statement Schedules and Reports on Form 8-K                            31


</TABLE>


                                       2

<PAGE>


                                     PART I

ITEM 1.  BUSINESS

NHP Retirement  Housing  Partners I Limited  Partnership  (the  Partnership),  a
Delaware  limited  partnership,  was formed under the Delaware  Revised  Uniform
Limited  Partnership  Act as of March 10,  1986.  On  September  23,  1986,  the
Partnership  commenced  offering  25,000  Assignee  Interests and 50,000 Pension
Notes,  both at a price of  $1,000  per unit  (the  Offering).  The  Partnership
subsequently  exercised  its right to increase the  offering to 75,000  Assignee
Interests and 100,000 Pension Notes. The offering was managed by NHP Real Estate
Securities,  Inc. and was terminated on September 22, 1987,  with  subscriptions
for 42,711 Assignee Interests and 42,697 Pension Notes.

The  Assignee  Interests  were  sold to  taxable  individuals  or  entities  and
represent assignments of limited partnership interests in the Partnership issued
to  NHP  RHP-I  Assignor   Corporation   (Assignor   Corporation),   a  Delaware
corporation,  the assignor and sole limited partner.  Pension Notes were sold to
qualified  profit-sharing,  pension and other retirement trusts, bank commingled
trust  funds for such  trusts,  Keogh  Plans and IRAs,  government  pension  and
retirement  trusts,  and  other  entities  intended  to be exempt  from  Federal
taxation.  The Pension Notes are obligations of the  Partnership  issued under a
Trust  Indenture  between the  Partnership  and The National  Bank of Washington
(NBW),  Washington,  D.C., as Trustee,  and have a preference  over the Assignee
Interests  with  respect  to  payment.  In August  1990,  Riggs  National  Bank,
Washington,  D.C., which became the successor  trustee,  purchased the assets of
NBW. In November 1996,  Riggs National Bank  transferred its trust operations to
the Bank of New York, New York City, which claims to be the successor trustee.

The  original  General  Partner  of  the  Partnership  was  NHP/RHGP-I   Limited
Partnership (NHP/RHGP-I),  a Delaware limited partnership, and NHP/RHGP-I held a
2 percent interest as General Partner in the Partnership.  On December 19, 1991,
NHP/RHGP-I  executed an amended and  restated  purchase  agreement  with Capital
Realty Group Properties,  Inc. (CRG), a Texas  corporation,  for the transfer of
its General Partner interests in the Partnership.  CRG assigned its rights under
this purchase  agreement to an affiliate,  Capital Realty Group Senior  Housing,
Inc. (CRGSH), a Texas corporation. Effective January 1, 1992, CRGSH was selected
by NHP/RHGP-I to manage the five properties of the  Partnership.  Effective June
1, 1993, the Partnership  entered into a Partnership  Management  Agreement with
CRGSH to provide  administrative  services  on behalf of the  Partnership.  This
Partnership  management  agreement was terminated  effective upon CRGSH becoming
the substitute General Partner.

The  substitution of CRGSH as sole General  Partner of the Partnership  required
the consent of 50 percent or more of the outstanding  Assignee Interests,  which
had been issued by the Partnership  and assigned by Assignor  Corporation to the
Assignee Holders. Under the Partnership Agreement,  holders of the Pension Notes
were not entitled to vote. Pursuant to a Consent  Solicitation dated October 25,
1994,  Assignee  Holders holding more than 64 percent of the equity interests in
the  Partnership  approved the  election of CRGSH,  as the  replacement  General
Partner of the  Partnership.  Effective  January 23, 1995,  CRGSH became the new
sole General Partner of the Partnership.  CRGSH was a wholly owned subsidiary of
Capital Realty Group  Corporation,  a Texas  corporation  (Capital).  Capital is

                                       3

<PAGE>


owned by James A.  Stroud (50  percent  through a trust) and Jeffrey L. Beck (50
percent).   CRGSH  assigned  its  contract  rights  to  manage  the  Partnership
properties to Capital Senior Living,  Inc. (CSL), a subsidiary of Capital Senior
Living Corporation (CSLC), effective February 1, 1996.

On June 10,  1998,  Capital  sold all of its  shares  of CRGSH  common  stock to
Retirement  Associates,  Inc. (Associates) for $855,000. The source of the funds
is a Promissory  Note for $855,000 with a five-year term and bearing an interest
rate of 8 percent per annum since  December 1, 1999.  Prior to December 1, 1999,
the Promissory  Note had an interest rate of 10 percent per annum;  the interest
rate was decreased to adjust to a market rate and in  consideration of an early,
unscheduled  payment of interest due. The remaining  interest will accrue on the
Promissory  Note  and  be  payable  at the  maturity  of  the  Promissory  Note.
Associates  is the  maker of the Note  and  Capital  is the  payee.  Mr.  Robert
Lankford is the President of Associates and has had prior business relationships
with Messrs. Beck and Stroud, the former principals of CRGSH. From 1988 to 1997,
Mr.  Lankford was an  independent  broker with Capital  Realty Group  Brokerage,
Inc., an affiliate of Capital.  From 1997 to the present,  however, Mr. Lankford
has  been a  principal  with  Kamco  Property  Company  Commercial  Real  Estate
Brokerage.  In this capacity,  Mr. Lankford provides independent commercial real
estate brokerage services for various clients including CSLC, which accounts for
less than 20 percent of his compensation. The address of the principal executive
offices of CRGSH is 3516 Merrell Road, Dallas,  Texas 75229. The phone number is
(972) 679-7477.

The  Partnership's  business is to operate  residential  rental  properties  for
retirement  age occupants (the  Properties).  The  Partnership  presently owns a
99.99 percent partnership interest in one property. See Item 2, Properties,  for
a description of this Property and the business plan for the Property.

The Partnership did not have any employees as of December 31, 2000.

Dissolution of Partnership

On December 31, 2001, the Pension Notes and deferred  interest of  approximately
$38,668,000  will  mature and become due.  Given the level of the  Partnership's
cash reserves at December 31, 2000 and estimated  value of  Partnership  assets,
the  Partnership  is not  expected to have  sufficient  funds to fully repay the
maturing Pension Notes and deferred interest on December 31, 2001.  Accordingly,
the Partnership  does not expect to have any funds available for distribution to
the Assignee Holders.

If the Pension Notes are not fully paid at their maturity,  a default will occur
under the Pension  Notes and Trust  Indenture  under which the Pension Notes are
administered.   In  such  event,   the  Trustee  may  choose  to  liquidate  the
Partnership's assets in an effort to satisfy the Pension Notes. A concern arises
that such a sale may be a "fire" or "distressed" sale and, as a result,  may not
yield the maximum value for the  Partnership's  assets.  Further  concern arises
from the apparent  weakening in the sales market for senior living  communities.
Because of these  factors and the  savings  that may be  obtained  from  earlier
payment on the  Pension  Notes,  the  General  Partner  has deemed it prudent to
dissolve the  Partnership  and sell its remaining asset to obtain the best terms
for a sale and  accordingly,  maximize value  realization  of the  Partnership's
remaining asset.

                                       4

<PAGE>


Accordingly, on February 12, 2001, the General Partner notified the Note Holders
and Assignee Holders of its intent to dissolve the Partnership effective May 21,
2001. The dissolution is subject to the rights of the Limited  Partners to elect
to  continue  the  business  of  the  Partnership.  Following  dissolution,  the
Partnership  will  take all  actions  necessary  to  wind-up  the  Partnership's
business including the sale of all of its remaining assets in an orderly fashion
and, to the extent of the proceeds thereof, pay its creditors and claims.

Regulatory Matters

Federal,  state and local  government  regulations  govern fitness and adequacy,
equipment, personnel and standards of medical care at a health care facility, as
well as health and fire  codes.  Changes  in the  applicable  regulations  could
adversely  affect the  operations  of a  property,  which  could also affect the
financial  results of the  Partnership.  Any impact  from  proposed  health care
legislation  is not known at this time;  however,  such impact  could  adversely
affect the Partnership operations.

ITEM 2.  PROPERTIES

On September 30, 1998, the  Partnership  sold four  properties to Capital Senior
Living  Properties  2 - NHPCT,  Inc.,  a wholly owned  subsidiary  of CSLC,  for
$40,650,000.  The four properties sold were the Atrium at Carmichael,  Crosswood
Oaks,  The  Heatherwood  and the Veranda Club.  After the sale,  The  Amberleigh
(Property)  is the only  remaining  property  in which the  Partnership  has any
interest.  After payment of closing costs,  the  Partnership  netted $322,652 in
cash  proceeds  from  the sale  after  $22,514,174  was  allocated  for  partial
redemption  of Pension  Notes,  $15,703,636  allocated  for  partial  payment of
deferred interest on redeemed Pension Notes, and $413,188 for payment of current
interest due on redeemed Pension Notes. The Partnership  recognized a $9,249,174
gain on sale of those  properties at September  30, 1998.  In October 1998,  the
Partnership recognized  approximately  $1,856,485 of additional interest expense
paid on redeemed Pension Notes resulting from the difference  between the stated
interest rate of 13 percent on the Pension  Notes and the accrued  interest rate
of  approximately  9 percent  recorded by the  Partnership  under the  effective
interest  rate  method.  Due to the partial  redemption  of Pension  Notes,  the
Partnership  recognized  $525,891  of  losses  on early  extinguishment  of debt
relating to the write off of issuance and  organization  costs on Pension  Notes
that were  redeemed.  The partial  redemption  of Pension  Notes will reduce the
amount of deferred interest,  which continues to accrue on the remaining Pension
Notes.

                                       5

<PAGE>


The following is a schedule of the Property owned by the Partnership at December
31,  2000.  The  Amberleigh  is  owned by a  limited  partnership  in which  the
Partnership  is a 99.99  percent  partner.  The  Amberleigh  is  encumbered by a
mortgage for the benefit of the Pension Note holders.

<TABLE>
<CAPTION>

                                                       Units Occupied                     Units Occupied
                                   Number            as a Percentage of                 as a Percentage of
          Property                   of              Total Units, as of                 Total Units, as of
        Name/Location               Units             December 31, 2000                  December 31, 1999
        -------------               -----             -----------------                  -----------------
<S>                                  <C>                     <C>                                <C>

The Amberleigh                       271                     86%                                87%
  At Woodstream Farms
  Williamsville, New York

</TABLE>


On November 5, 1997, the Partnership purchased  approximately 3.10 acres of land
adjacent to The  Amberleigh  for $500,000  plus closing  costs for the potential
expansion of the Amberleigh, as well as to prevent another purchaser from buying
the tract and blocking the facility from view from the main intersection. Due to
licensure and financing  requirements,  the land  currently will not be used for
development.

The business plan for the Amberleigh will be to continue to  aggressively  lease
up the  property in order to maximize  re-sale  value prior to sale.  To achieve
this plan,  an  additional  marketing  executive  has been hired,  the  regional
marketing  director has been relocated to office on-site at the facility,  and a
community  outreach program has been  implemented.  The General Partner believes
this business  plan will provide an  opportunity  for improved  occupancy at the
property, and increase its potential resale value.

Due to the Partnership's  goal to remain competitive in its real estate markets,
the General Partner  developed an ongoing capital  improvement  program that was
implemented in 1994. The program  generally  includes  painting of the building,
replacement  of carpet and  curtains,  purchase of new  furniture  and furniture
refurbishment,  and  purchase of new  equipment.  Budgeted  operational  capital
expenditures for 2001 are approximately $123,725.

ITEM 3.  LEGAL PROCEEDINGS

On or about  October  23,  1998,  Robert  Lewis  filed a putative  class  action
complaint  on  behalf  of  certain  holders  of  assignee  interests   (Assignee
Interests)  in the  Partnership  in the Delaware  Court of Chancery  against the
Partnership,  CSLC,  Capital Senior Living Properties  2-NHPCT,  Inc. and CRGSH,
Inc. (collectively the Defendants). Mr. Lewis purchased 90 Assignee Interests in
NHP in February 1993 for $180. The complaint alleges,  among other things,  that
the  Defendant  breached,  or aided and  abetted a breach  of, the  express  and
implied terms of the NHP  Partnership  Agreement in connection  with the sale of
four  properties by NHP to Capital Senior Living  Properties  2-NHPCT,  Inc. The
complaint seeks, among other relief,  rescission of the sale of these properties
and unspecified damages. The Partnership believes the complaint is without merit
and is vigorously  defending  itself this action.  The  Partnership  has filed a
Motion to Dismiss in this case,  which currently is pending.  The Partnership is
unable to estimate any liability related to this claim, if any.

                                       6
<PAGE>



ITEM 4.  SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

None.

                                                       PART II

ITEM 5.  MARKET  FOR THE  REGISTRANT'S  PENSION  NOTES AND  LIMITED  PARTNERSHIP
         ASSIGNEE INTERESTS AND RELATED PARTNERSHIP MATTERS

a.       Assignee  Interests  and  Pension  Notes  were  sold  through  a public
         offering  managed  by NHP Real  Estate  Securities,  Inc.  There is not
         currently,   and  it  is  not  anticipated  that  there  will  be,  any
         established  public trading market for resale of Assignee  Interests or
         Pension  Notes.  Accordingly,  an  investor  may be  unable  to sell or
         otherwise dispose of his interest in the Partnership.

         As of March 1, 2001,  there were 2,271  registered  holders of Assignee
         Interests and 3,109 registered holders of Pension Notes.

         As of March 1, 2001,  Capital  Senior  Living  Properties,  Inc.  owned
         approximately  14,131 Pension Notes, or approximately 33 percent of the
         Partnership's outstanding Pension Notes.

         Each  Pension  Note  bears  stated  interest  in an amount  equal to 13
         percent per annum,  9 percent of which was subject to deferral  through
         December  31,  1988  and 6  percent  of which is  subject  to  deferral
         thereafter.  Interest is payable quarterly.  Quarterly distributions of
         Cash  Available  for   Distribution  (as  defined  in  the  Partnership
         Agreement)  are payable to  Assignee  Interest  Holders  within 60 days
         after  the end of  each  three-month  period,  subject  to the  General
         Partner's  right to  restrict  or suspend  such  distributions,  if the
         General  Partner,  in its  absolute  discretion,  determines  that such
         restriction or suspension is in the best interests of the Partnership.

         For each of the years ended December 31, 2000, 1999 and 1998,  interest
         paid  to the  Pension  Note  Holders  as a  group  totaled  $1,416,337,
         $1,421,799, and $2,589,891, respectively, per year. With respect to the
         fourth quarter of 2000,  interest payments paid to Pension Note Holders
         on March 1, 2001  amounted  to  $355,661.  In  addition  to the  fourth
         quarter  2000  interest  payment made on March 1, 2001,  an  additional
         $1,000,000 deferred interest payment was disbursed on March 1, 2001.

         No cash distributions were paid to the Assignee Interest Holders during
         2000,  1999,  or 1998.  As presented in the Statement of Cash Flows (as
         stated  below),  cash  and  cash  equivalents   (decreased)   increased
         $(60,769),  $(267,943), and $1,325,567 for the years ended December 31,
         2000, 1999 and 1998, respectively. Future cash requirements have caused
         the General Partner to determine that it is not financially appropriate
         to make distributions to Assignee Interest Holders.

                                       7

<PAGE>


b.       Not applicable.

ITEM 6.  SELECTED FINANCIAL DATA
<TABLE>
<CAPTION>

                                                                   Years Ended December 31,

                                            2000            1999             1998            1997             1996
                                            ----            ----             ----            ----             ----
<S>                                   <C>             <C>              <C>             <C>              <C>

Revenue                               $   5,274,800   $   5,322,600    $ 13,746,088    $  15,548,138    $  14,488,099
                                      =============   =============    ============    =============    =============
Net Income (Loss)                     $  (2,473,796)  $  (2,474,347)   $  3,409,569    $  (3,522,917)   $  (3,574,668)
                                      =============   =============    ============    =============    ==============

Net Income (Loss) per Assignee
Interest                              $         (58)  $         (57)   $         61    $         (81)   $         (82)
                                      =============   ==============   ============    ==============   ==============

Total assets                          $  23,753,479   $  24,333,572    $ 25,262,800    $  55,585,840    $  56,071,884
                                      =============   =============    ============    =============    =============

Long-term obligations,
   Pension Notes, and related
   interest payable                   $  36,938,253   $  35,036,889    $ 33,300,689    $  66,402,407    $  63,353,172
                                      =============   =============    ============    =============    =============
Cash distributions per
   Assignee Interest                  $           0   $           0    $          0    $           0    $           0
                                      =============   =============    ============    =============    =============

</TABLE>


ITEM 7.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
         OF OPERATIONS

Results of Operations

Income from rental  operations  decreased  to  $1,350,158  from  $1,456,968  and
$3,402,021 for the years ended December 31, 2000, 1999, and 1998,  respectively.
Rental revenue  decreased in 2000 to $5,274,800  from  $5,322,600 in 1999 due to
lower  occupancies  at the  Property.  Rental  expenses  slightly  increased  to
$3,924,642 in 2000 from $3,865,632 in 1999 due to increased  costs  attributable
to inflation.

Rental revenue  decreased in 1999 to $5,322,600 from $13,746,088 in 1998. Rental
expenses also  decreased to $3,865,632 in 1999 from  $10,344,067  in 1998.  Both
decreases in rental revenues and expenses from 1998 to 1999 were due to the sale
of four  properties on September 30, 1998. Due to the sale of four properties on
September  30,  1998,  the  Partnership  recognized  in  1998 a gain  on sale of
$9,249,174,  a loss on early extinguishment of debt of $525,891,  and additional
interest expense on Pension Notes of $1,856,485 on the redeemed Pension Notes.

The Partnership's net income (loss) is $(2,473,796), $(2,474,347) and $3,409,569
for the years ended December 31, 2000, 1999, and 1998, respectively.

                                       8
<PAGE>

Liquidity and Capital Resources.

Net cash provided by operating activities during 2000 was $126,945, representing
an increase  over 1999 net cash used by operating  activities  of $125,391.  Net
cash provided in 2000 operations  primarily was due to decreased other operating
expenses paid. Rent collections  decreased to $4,985,113 in 2000 from $5,056,293
in 1999,  primarily  due to lower  occupancy at the Property.  Likewise,  rental
collections  decreased from $13,401,008 in 1998 to $5,056,293 in 1999 due to the
sale  of  the  properties  in  1998.  Operating  expenses  paid  decreased  from
$4,012,953  in 1999 to  $3,721,034  in 2000  primarily  due to  decreased  other
operating expenses paid. Operating expenses decreased from $9,448,442 in 1998 to
$4,012,953 in 1999 due to the sale of the properties in 1998.  Interest paid was
$1,416,337 in 2000, $1,421,799 in 1999, and $2,589,891 in 1998.

For the years ended 2000 and 1998,  cash  generated  from rental  operations was
sufficient to pay the base interest amount on the  outstanding  Pension Notes of
$1,416,337 and  $2,589,891,  respectively.  However,  cash generated from rental
operations  during  1999 was  insufficient  to pay the base  interest  amount of
$1,421,799.  Interest  payments on the Pension Notes are accrued at a 13 percent
rate,  but were paid based on a 7 percent pay rate in 2000,  1999, and 1998. The
remaining 6 percent unpaid  portion for these years as well as amounts  deferred
in prior years in accordance with the terms of the Pension Notes continues to be
accrued and are due at maturity,  December 31, 2001. Accrued and unpaid interest
at December 31, 2000 amounted to $16,780,427.

Cash and cash  equivalents  at December  31,  2000  amounted  to  $5,492,588  as
compared to $5,553,357 at December 31, 1999.

Dissolution of Partnership

On December 31, 2001, the Pension Notes and deferred  interest of  approximately
$38,668,000  will  mature and become due.  Given the level of the  Partnership's
cash reserves at December 31, 2000 and estimated  value of  Partnership  assets,
the  Partnership  is not  expected to have  sufficient  funds to fully repay the
maturing Pension notes and deferred interest on December 31, 2001.  Accordingly,
the Partnership  does not expect to have any funds available for distribution to
the Assignee Holders.

If the Pension Notes are not fully paid at their maturity,  a default will occur
under the Pension  Notes and Trust  Indenture  under which the Pension Notes are
administered.   In  such  event,   the  Trustee  may  choose  to  liquidate  the
Partnership's assets in an effort to satisfy the Pension Notes. A concern arises
that such a sale may be a "fire" or "distressed" sale and, as a result,  may not
yield the maximum value for the  Partnership's  assets.  Further  concern arises
from the apparent  weakening in the sales market for senior living  communities.
Because of these  factors and the  savings  that may be  obtained  from  earlier
payment on the  Pension  Notes,  the  General  Partner  has deemed it prudent to
dissolve the  Partnership  and sell its remaining asset to obtain the best terms
for a sale and  accordingly,  maximize value  realization  of the  Partnership's
remaining asset.

                                       9
<PAGE>

Accordingly, on February 12, 2001, the General Partner notified the Note Holders
and Assignee Holders of its intent to dissolve the Partnership effective May 21,
2001. The dissolution is subject to the rights of the Limited  Partners to elect
to  continue  the  business  of  the  Partnership.  Following  dissolution,  the
Partnership  will  take all  actions  necessary  to  wind-up  the  Partnership's
business including the sale of all of its remaining assets in an orderly fashion
and, to the extent of the proceeds thereof, pay its creditors and claims.

Management's  plans are to continue to manage the Property prudently in order to
maximize  the  resale  value  of the  Property  during  the  dissolution  of the
Partnership.

ITEM 7A. QUALITATIVE AND QUANTITATIVE DISCLOSURE ABOUT MARKET RISK

The  Partnership  believes  any  impact  of  market  risk  to the  Partnership's
operations is immaterial.

ITEM 8.  FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

The financial  statements and supplementary data of the Partnership are included
on pages 11 through 28 of this report.

                                       10
<PAGE>


                          REPORT OF ERNST & YOUNG LLP,

                              INDEPENDENT AUDITORS

The Partners

NHP Retirement Housing Partners I Limited Partnership

We have  audited  the  accompanying  statements  of  financial  position  of NHP
Retirement  Housing  Partners I Limited  Partnership as of December 31, 2000 and
1999, and the related statements of operations,  partners' equity (deficit), and
cash flows for each of the three years in the period  ended  December  31, 2000.
These  financial   statements  are  the   responsibility  of  the  Partnership's
management.  Our  responsibility  is to express  an  opinion on these  financial
statements based on our audits.

We conducted our audits in accordance with auditing standards generally accepted
in the United States. Those standards require that we plan and perform the audit
to obtain reasonable  assurance about whether the financial  statements are free
of material misstatement. An audit includes examining, on a test basis, evidence
supporting  the amounts and  disclosures in the financial  statements.  An audit
also includes assessing the accounting principles used and significant estimates
made by  management,  as well as  evaluating  the  overall  financial  statement
presentation.  We believe  that our audits  provide a  reasonable  basis for our
opinion.

In our opinion,  the financial  statements  referred to above present fairly, in
all material respects, the financial position of NHP Retirement Housing Partners
I Limited  Partnership  at  December  31,  2000 and 1999 and the  results of its
operations  and its cash flows for each of the three  years in the period  ended
December 31, 2000, in conformity with accounting  principles  generally accepted
in the United States.

The  accompanying  financial  statements  have been  prepared  assuming that NHP
Retirement  Housing  Partners  I  Limited  Partnership  (the  Partnership)  will
continue as a going concern.  As more fully described in Note 9, the Partnership
has Pension Notes and accrued  interest of $38,668,000 due at December 31, 2001,
that are  expected  to be in excess of the net book  value of the  Partnership's
assets  available to meet this  liability,  which is $23,753,479 at December 31,
2000.  Additionally,  without  proceeds  from  the  sale  of  the  Partnership's
principal  operating  property  during  2001,  the  Partnership  will  not  have
sufficient  liquidity to repay  substantially  all the Pension Notes and accrued
interest when due. On February 12, 2001, the General  Partner of the Partnership
notified  the Note  Holders and  Assignee  Holders of its intent to dissolve the
Partnership  effective May 21, 2001. These conditions  raise  substantial  doubt
about the  Partnership's  ability to continue as a going concern.  The financial
statements do not include any adjustments to reflect the possible future effects
on  the   recoverability  and  classification  of  assets  or  the  amounts  and
classification  of  liabilities  that  may  result  from  the  outcome  of  this
uncertainty.

                                                      Ernst & Young LLP
Dallas, Texas
January 26, 2001
except for notes 1 and 9, as to which the date is
February 12, 2001

                                       11
<PAGE>


              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                        STATEMENTS OF FINANCIAL POSITION

<TABLE>
<CAPTION>

                                                                                    December 31,
                                                                           2000                       1999
                                                                           ----                       ----
<S>                                                                 <C>                         <C>

ASSETS (Notes 1 and 6)

Cash and cash equivalents (Note 2)                                  $       5,492,588           $       5,553,357

Receivables                                                                    36,174                      25,690

Pension Notes issuance costs (Note 1)                                         119,009                     238,013

Prepaid expenses                                                              132,989                     119,097

Rental property (Notes 1 and 10):
   Land                                                                     2,497,725                   2,391,705

   Buildings and improvements, net of
     accumulated depreciation of $6,936,874
     in 2000 and $6,354,013 in 1999                                        15,470,554                  16,001,167

Other assets                                                                    4,440                       4,543
                                                                    -----------------           -----------------

Total assets                                                        $      23,753,479           $      24,333,572
                                                                    =================           =================

LIABILITIES AND PARTNERS' DEFICIT

Liabilities:
   Accounts payable                                                 $         203,373           $         175,495
   Interest payable (Notes 1 and 6)                                        16,780,427                  14,879,063
   Pension Notes (Notes 1 and 6)                                           20,157,826                  20,157,826
   Other liabilities (Note 2)                                                 289,944                     296,037
                                                                    -----------------           -----------------

                                                                           37,431,570                  35,508,421
                                                                    -----------------           -----------------

Contingencies (Note 12)

Partners' deficit (Notes 5 and 7):
   General Partner                                                         (1,006,466)                   (928,115)
   Assignee Limited Partner - 42,120 and 42,691
     investment units outstanding in 2000 and 1999,                       (12,671,625)                (10,246,734)
     respectively                                                  ------------------          ------------------


Total partners' deficit                                                   (13,678,091)                (11,174,849)
                                                                    -----------------           -----------------

Total liabilities and partners' deficit                             $      23,753,479           $      24,333,572
                                                                    =================           =================

</TABLE>

                        See Notes to Financial Statements

                                       12
<PAGE>


              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                            STATEMENTS OF OPERATIONS

<TABLE>
<CAPTION>
                                                                                   Year Ended December 31,
                                                                          2000               1999              1998
                                                                          ----               ----              ----
<S>                                                                   <C>                <C>               <C>

REVENUES

   Rental income                                                      $    4,995,597     $    5,069,532    $   13,381,567
   Interest income                                                           216,442            181,994           149,883
   Other income                                                               62,761             71,074           214,638
                                                                      --------------     --------------    --------------

                                                                           5,274,800          5,322,600        13,746,088
                                                                      --------------     --------------    --------------

COSTS AND EXPENSES
   Salaries, related benefits and overhead reimbursements (Note 3)         1,080,206          1,074,947         3,318,570
   Management fees, dietary fees and other services (Note 3)                 460,444            457,581         1,235,020
   Administrative and marketing                                              235,967            228,217           552,944
   Utilities                                                                 286,361            267,087           729,706
   Maintenance                                                               181,526            174,640           421,542
   Resident services, other than salaries                                     38,661             45,182           230,693
   Food services, other than salaries                                        533,939            529,369         1,350,723
   Depreciation                                                              582,861            570,238         1,462,362
   Taxes and insurance                                                       524,677            518,371         1,042,507
                                                                      --------------     --------------    --------------

                                                                           3,924,642          3,865,632        10,344,067
                                                                      --------------     --------------    --------------

INCOME FROM RENTAL OPERATIONS                                              1,350,158          1,456,968         3,402,021
                                                                      --------------     --------------    --------------

OTHER (INCOME) EXPENSES
   Gain on sale (Note 4)                                                           -                  -        (9,249,174)
   Loss on early extinguishment of debt (Note 4)                                   -                  -           525,891
   Interest expense - Pension Notes (Note 6)                               3,317,701          3,157,999         8,119,171
   Amortization of Pension Notes issuance costs                              119,004            119,004           220,845
   Amortization of Pension Notes organization costs                                -             77,615            43,800
   Other expenses                                                            387,249            576,697           331,919
                                                                      --------------     --------------    --------------

                                                                           3,823,954          3,931,315            (7,548)
                                                                      --------------     --------------    --------------

NET INCOME (LOSS)                                                     $   (2,473,796)    $   (2,474,347)    $   3,409,569
                                                                      ===============    ===============   ==============

ALLOCATION OF NET INCOME (LOSS)
   General Partner                                                    $      (49,476)    $      (49,487)    $     808,125
   Assignor Limited Partner                                               (2,424,320)        (2,424,860)        2,601,444
                                                                      ---------------    ---------------   --------------

                                                                      $   (2,473,976)    $   (2,474,347)    $   3,409,569
                                                                       ==============     ==============   ==============

NET INCOME (LOSS) PER ASSIGNEE INTEREST                               $          (58)    $          (57)    $          61
                                                                       ==============     ==============   ==============

</TABLE>

                        See Notes to Financial Statements

                                       13
<PAGE>


              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                    STATEMENTS OF PARTNERS' EQUITY (DEFICIT)
<TABLE>
<CAPTION>

                                                                                Assignee
                                                             General             Limited
                                                             Partner            Partners                Total

<S>                                                 <C>                   <C>                    <C>

Partners' deficit at December 31, 1997              $       (1,596,670)   $     (10,423,318)     $      (12,019,988)

Distributions                                                  (61,287)                   -                 (61,287)

Net Income                                                     808,125            2,601,444               3,409,569
                                                      ----------------      ---------------         ---------------

Partners' deficit at December 31, 1998                        (849,832)          (7,821,874)             (8,671,706)

Distributions                                                  (28,796)                   -                 (28,796)

Net Loss                                                       (49,487)          (2,424,860)             (2,474,347)
                                                      ----------------      ----------------        ----------------

Partners' deficit at December 31, 1999                        (928,115)         (10,246,734)            (11,174,849)

Distributions                                                  (28,875)                   -                 (28,875)

Repurchase of 571 assignee units
     subsequently cancelled                                          -                 (571)                   (571)

Net Loss                                                       (49,476)          (2,424,320)             (2,473,796)
                                                      ----------------      ---------------         ---------------

Partner's deficit at December 31, 2000                $     (1,006,466)     $   (12,671,625)        $   (13,678,091)
                                                      ================      ===============         ===============



</TABLE>






                        See Notes to Financial Statements

                                       14
<PAGE>


              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                            STATEMENTS OF CASH FLOWS

<TABLE>
<CAPTION>



                                                                                           Year Ended December 31,
                                                                              2000                  1999                  1998
                                                                              ----                  ----                  ----
<S>                                                                     <C>                  <C>                   <C>

CASH FLOWS FROM OPERATING ACTIVITIES
   Rent collections                                                     $     4,985,113      $     5,056,293       $    13,401,008
   Interest received                                                            216,442              181,994               149,883
   Other income                                                                  62,761               71,074               214,638
   Management fees, dietary fees and other services                            (422,871)            (457,390)           (1,239,970)
   Salary, related benefits and overhead reimbursements                      (1,080,869)          (1,078,502)           (3,440,465)
   Other operating expenses paid                                             (2,217,294)          (2,477,061)           (4,768,007)
   Interest paid                                                             (1,416,337)          (1,421,799)           (2,589,891)
                                                                        ---------------      ---------------       ---------------

   Net cash provided by (used in) operating activities                          126,945             (125,391)            1,727,196

CASH FLOWS FROM INVESTING ACTIVITIES
   Proceeds from sale of properties                                                   -                    -            38,540,462
   Capital expenditures                                                        (158,268)            (113,756)             (662,994)
                                                                        ---------------      ---------------       ---------------

   Net cash (used in) provided by investing activities                         (158,268)            (113,756)           37,877,468

CASH FLOWS FROM FINANCING ACTIVITIES
   Repurchase of assignee units                                                    (571)                   -                     -
   Payments on Pension Notes and deferred interest
     payable                                                                          -                    -           (38,217,810)
   Distributions                                                                (28,875)             (28,796)              (61,287)
                                                                        ----------------     ----------------      ---------------

   Net cash used in financing activities                                        (29,446)             (28,796)          (38,279,097)
                                                                        ----------------     ----------------      ---------------

Net (decrease) increase in cash and cash equivalents                            (60,769)            (267,943)            1,325,567

Cash and cash equivalents at beginning of year                                5,553,357            5,821,300             4,495,733
                                                                        ---------------      ---------------       ---------------

Cash and cash equivalents at end of year                                $     5,492,588      $     5,553,357       $     5,821,300
                                                                        ===============      ===============       ===============



</TABLE>

                        See Notes to Financial Statements

                                       15
<PAGE>


              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                            STATEMENTS OF CASH FLOWS
<TABLE>
<CAPTION>

                                                                                 Year Ended December 31,
                                                                        2000               1999               1998
                                                                        ----               ----               ----

<S>                                                               <C>                 <C>                <C>

RECONCILIATION OF NET INCOME (LOSS)
TO NET CASH PROVIDED BY (USED IN)
OPERATING ACTIVITIES
   Net Income (loss)                                              $    (2,473,796)    $    (2,474,347)   $     3,409,569
                                                                  ----------------    ----------------   ---------------

ADJUSTMENTS TO RECONCILE NET
INCOME (LOSS) TO NET CASH PROVIDED
BY (USED IN) OPERATING ACTIVITIES
   Gain on sale of properties                                                   -                   -         (9,249,174)
   Loss on early extinguishment of debt                                         -                   -            525,891
   Depreciation                                                           582,861             570,238          1,462,362
   Amortization of Pension Notes organization costs                             -              77,615             43,800
   Amortization of Pension Notes issuance costs                           119,004             119,004            220,845
   Interest deferred                                                    1,901,364           1,736,200          5,529,280

CHANGES IN OPERATING ASSETS AND
LIABILITIES
   Other assets and receivables                                           (10,381)            (13,309)            56,888
   Prepaid expenses                                                       (13,892)             21,493            138,755
   Accounts payable                                                        27,878            (126,178)           (19,123)
   Other liabilities                                                       (6,093)            (36,107)          (391,897)
                                                                  ---------------     ---------------    ----------------

Net cash provided by (used in) operating activities               $       126,945     $      (125,391)   $     1,727,196
                                                                  ===============     ================   ===============



</TABLE>

                        See Notes to Financial Statements


                                       16
<PAGE>


              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                          NOTES TO FINANCIAL STATEMENTS
                           DECEMBER 31, 2000 AND 1999

NOTE 1.  SUMMARY OF PARTNERSHIP ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES

Organization

NHP Retirement  Housing Partners I Limited  Partnership  (the  Partnership) is a
limited  partnership  organized under the laws of the State of Delaware on March
10,  1986.  The  Partnership  was formed for the  purpose of raising  capital by
issuing  both  Pension  Notes  (Notes)  to  tax-exempt   investors  and  selling
additional  Partnership  interests in the form of Assignee Interests (Interests)
to  taxable  individuals.   Interests  represent   assignments  of  the  limited
partnership interests of the Partnership issued to the Assignor Limited Partner,
NHP RHP-I  Assignor  Corporation.  The  proceeds  from the sale of the Notes and
Interests have been invested in residential rental properties for retirement age
occupants.

On  December  31,  2001,  the  Notes  and  deferred  interest  of  approximately
$38,668,000  are scheduled to mature.  The  Partnership  is not expected to have
sufficient funds to fully repay this amount.  Due to the pending maturity of the
Notes  and  to  obtain  maximum  value  through  an  organized   disposition  of
Partnership  assets,  the General  Partner on February 12, 2001 has notified the
Note  Holders and  Assignee  Holders of its intent to dissolve  the  Partnership
effective May 21, 2001 (see Note 9).

Following is a description  of the Project owned  indirectly and operated by the
Partnership at December 31, 2000.

The Amberleigh

This project is a 271-unit  retirement  living center located in  Williamsville,
New York. The facility was  approximately  86 percent and 87 percent occupied at
December 31, 2000 and 1999,  respectively.  On November 5, 1997, the Partnership
purchased  approximately  3.10  acres of land  adjacent  to The  Amberleigh  for
$500,000 plus closing costs for the potential  expansion of The  Amberleigh,  as
well as to prevent  another  purchaser  from buying the tract and  blocking  the
facility  from view from the main  intersection.  Due to licensure and financing
issues,  there  are  no  current  plans  to  develop  this  land.  During  2000,
construction  in process of $106,020  associated to this land were  reclassified
from construction in process to land.

Following are  descriptions  of the Projects  owned directly and operated by the
Partnership  at December 31, 1997 and  subsequently  sold on September  30, 1998
(see Note 4).

                                       17
<PAGE>


              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                          NOTES TO FINANCIAL STATEMENTS
                      DECEMBER 31, 2000 AND 1999 CONTINUED

The Atrium of Carmichael

This  project is a 153-unit  retirement  living  center  located in  Sacramento,
California.

Crosswood Oaks

This  project is a 122-unit  retirement  living  center  located in  Sacramento,
California.

The Heatherwood

This project is a 160 -unit  retirement  living  center  located in  Southfield,
Michigan.

Veranda Club

This  project is a 189-unit  retirement  living  center  located in Boca  Raton,
Florida.

Significant Accounting Policies

Organization  costs related to the sale of Notes were being  amortized using the
straight-line   method  through   February   1999.  The  remaining   balance  of
organization  costs of $68,599 was  written  off in 1999 as  required  under the
American Institute of Certified Public  Accountants  Statement of Position 98-5,
Reporting Costs of Start-Up  Activities.  Offering and issuance costs related to
the sale of Notes are being  amortized using the  straight-line  method over the
term of the Notes.  Accumulated  amortization  at December 31, 2000 and 1999 was
$3,438,753 and $3,319,749, respectively. Selling commissions related to the sale
of Interests were recorded as a direct  reduction to the capital  account of the
holders of Interests.  Direct costs of acquisition,  including  acquisition fees
and  expenses  paid to the General  Partner,  have been  capitalized  as part of
buildings  and  improvements.  Other fees and  expenses of the  Partnership  are
recognized as expenses in the period the related services are performed.

Interest expense on Notes is calculated using the effective interest method (see
Note 6).

                                       18
<PAGE>


              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                          NOTES TO FINANCIAL STATEMENTS
                      DECEMBER 31, 2000 AND 1999 CONTINUED

Buildings and  improvements are recorded at the lower of cost or net recoverable
value  (Note 10) and  depreciated  using the  straight-line  method,  assuming a
30-year  life and a 30  percent  salvage  value.  Furniture  and  equipment  are
recorded at cost and depreciated using the straight-line method over 5 years.

The cost of rental property and their useful lives are summarized as follows:

<TABLE>
<CAPTION>


                                                    Useful Life               2000                    1999
                                                    -----------               ----                    ----
<S>                                                <C>               <C>                    <C>

Land                                                                 $       2,497,725      $       2,391,705
                                                                     =================      =================

Land improvements                                  30 years          $          50,317      $          40,815
Building and building improvements                 30 years                 21,501,103             21,456,303
Furniture and equipment                             5 years                    856,008                752,042
Construction in process                                   -                         -                 106,020
                                                                     -----------------      ------------------
                                                                            22,407,428             22,355,180
Less-accumulated depreciation                                               (6,936,874)            (6,354,013)
                                                                     -----------------      -----------------
                                                                     $      15,470,554      $      16,001,167
                                                                     =================      =================


</TABLE>

Rental  income is  recognized  when earned  based on  residents'  signed  rental
agreements. Rental payments received in advance are deferred and recognized when
earned.

The preparation of financial  statements in conformity  with generally  accepted
accounting principles requires management to make estimates and assumptions that
effect the amounts reported in the financial  statements and accompanying notes.
Actual results could differ from those estimates.

NOTE 2.  CASH AND CASH EQUIVALENTS

As of December 31, 2000 and 1999, cash and cash equivalents  consisted of demand
deposits and repurchase  agreements.  All repurchase agreements have an original
maturity  of three  months or less and,  therefore,  are  considered  to be cash
equivalents.

Cash and cash equivalents also includes $161,500 and $135,504 of tenant security
deposits at December 31, 2000 and 1999,  respectively,  which are designated for
the purpose of providing refunds to tenants upon move-out.

                                       19

<PAGE>


              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                          NOTES TO FINANCIAL STATEMENTS
                      DECEMBER 31, 2000 AND 1999 CONTINUED


NOTE 3.  TRANSACTIONS WITH THE GENERAL PARTNER AND ITS AFFILIATES

Through  January 22,  1995,  the sole  General  Partner of the  Partnership  was
NHP/RHGP-I Limited Partnership  (NHP/RHGP-I) and the sole limited partner of the
Partnership was NHP RHP-I Assignor Corporation, a Delaware corporation.

Effective  January 23, 1995,  Capital Realty Group Senior Housing,  Inc. (CRGSH)
became the sole General Partner of the Partnership.  Effective February 1, 1995,
CRGSH  assigned its contract  rights to manage the  Partnership's  properties to
Capital  Senior  Living,  Inc.  (CSL),  which,  in 1997,  became a subsidiary of
Capital  Senior  Living  Corporation.   CSL  received  $422,871,  $457,390,  and
$1,239,970, in 2000, 1999, and 1998, respectively,  for management fees, dietary
services fees and other  operating  expense  reimbursements  related to services
provided to the Partnership.

Personnel  working at the property  sites and certain home office  personnel who
perform  services  for the  Partnership  were  employees of CSL, an affiliate of
CRGSH until June 30, 1998. The  Partnership  reimbursed CSL for the salaries and
related  benefits of such personnel as reflected in the  accompanying  financial
statements.  During 2000,  1999,  and 1998,  such  reimbursements  for salaries,
related benefits and overhead reimbursements amounted to $1,080,869, $1,078,502,
and $3,440,465, respectively.

During 1997, a former  affiliate of the General  Partner,  Capital Senior Living
Communities,   L.P.,  purchased   approximately  11,318  of  Pension  Notes,  or
approximately 30.74 percent of the Partnership's outstanding Pension Notes at an
average  price of $822 per Note.  On November  3, 1997,  Capital  Senior  Living
Communities,  L.P. sold its Pension Notes to Capital  Senior Living  Properties,
Inc.,  at that time an  affiliate  of the General  Partner and a  subsidiary  of
Capital  Senior Living  Corporation,  at a price of $1,422 per Note. At December
31, 2000,  Capital  Senior Living  Properties,  Inc. holds 14,131 Pension Notes.
Capital  Senior  Living   Corporation  is  subject  to  the  periodic  reporting
obligations of the Securities and Exchange Commission.

                                       20
<PAGE>


              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                          NOTES TO FINANCIAL STATEMENTS
                      DECEMBER 31, 2000 AND 1999 CONTINUED

On June 10, 1998,  Capital  Realty Group  Corporation  sold all of its shares of
CRGSH common stock to Retirement Associates, Inc. (Associates) for $855,000. The
source of the funds is a Promissory  Note for $855,000 with a five-year term and
bearing an interest rate of 8 percent per annum as of December 1, 1999. Prior to
December 1, 1999,  the  Promissory  Note had an interest  rate of 10 percent per
annum;  the  interest  rate was  decreased  to  adjust  to a market  rate and in
consideration  of an early,  unscheduled  payment of interest due. The remaining
interest  will accrue on the  Promissory  Note and be payable at the maturity of
the  Promissory  Note.  Associates  is the maker of the Note and Capital  Realty
Group  Corporation  is the  payee.  Mr.  Robert  Lankford  is the  President  of
Associates  and has had  prior  business  relationships  with  Messrs.  Beck and
Stroud,  the former  principals of CRGSH. From 1988 to 1997, Mr. Lankford was an
independent  broker with Capital Realty Group  Brokerage,  Inc., an affiliate of
Capital  Realty  Group  Corporation.  From  1997 to the  present,  however,  Mr.
Lankford has been a principal with Kamco Property Company Commercial Real Estate
Brokerage.  In this capacity,  Mr. Lankford provides independent commercial real
estate brokerage  services for various clients  including  Capital Senior Living
Corporation,  which accounts for less than 20 percent of his  compensation.  The
address  of the  principal  executive  offices  of CRGSH is 3516  Merrell  Road,
Dallas, Texas 75229.

In connection  with the sale of four  properties  in 1998 (see Note 4),  Capital
Realty Group Brokerage, Inc. received $1,219,500 in brokerage fees.

NOTE 4.   DISPOSITION OF PROPERTY AND REDEMPTION OF PENSION NOTES

On September 30, 1998, the  Partnership  sold four  properties to Capital Senior
Living  Properties 2 - NHPCT,  Inc., a wholly owned subsidiary of Capital Senior
Living Corporation, for $40,650,000. The four properties sold were the Atrium at
Carmichael,  Crosswood  Oaks, The  Heatherwood  and the Veranda Club.  After the
sale, The Amberleigh is the only remaining property in which the Partnership has
any interest. After payment of closing costs, the Partnership netted $322,652 in
cash  proceeds  from  the sale  after  $22,514,174  was  allocated  for  partial
redemption  of Pension  Notes,  $15,703,636  allocated  for  partial  payment of
deferred interest,  and $413,188 for payment of current interest due on redeemed
Pension Notes.  The  Partnership  recognized a $9,249,174  gain on sale of those
properties at September 30, 1998.


                                       21

<PAGE>


              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                          NOTES TO FINANCIAL STATEMENTS
                      DECEMBER 31, 2000 AND 1999 CONTINUED

In  October  1998,  the  Partnership  recognized   approximately  $1,856,485  of
additional  interest  expense paid on redeemed  Pension Notes resulting from the
difference  between the stated  interest rate of 13 percent on the Pension Notes
and the  accrued  interest  rate of  approximately  9  percent  recorded  by the
Partnership  under  the  effective  interest  rate  method.  Due to the  partial
redemption of Pension Notes,  the Partnership  recognized  $525,891 of losses on
early  extinguishment  of  debt  relating  to  the  write  off of  issuance  and
organization costs on Pension Notes that were redeemed.

NOTE 5.  CASH DISTRIBUTION POLICIES

The Partnership  Agreement allows for quarterly  payments of  substantially  all
Cash  Available  For  Distribution  (as defined in the  Partnership  Agreement),
subject  to  the  following:  (a)  distributions  to  Assignee  Holders  may  be
restricted or suspended for limited periods when the General Partner  determines
in its absolute  discretion that it is in the best interests of the Partnership;
and  (b) all  Assignee  Holder  distributions  are  subject  to the  payment  of
Partnership  expenses,  payments  to Note  Holders  and  maintenance  of working
capital reserves.

Distributions of cash available for distribution are made in the following order
of priority, to the extent available:

1.       To the  General  Partner  in an  amount  equal  to 2  percent  of  cash
         available for distribution  before interest payments for each quarterly
         cash distribution period;

2.       To the Interest  Holders  until the Interest  Holders have  received an
         amount equal to an aggregate annual non-compounded return of 10 percent
         on  their  adjusted  capital  contributions  for  each  quarterly  cash
         distribution period;

3.       To the General Partner,  a Partnership  Management  Incentive Fee in an
         amount equal to 8 percent of Cash  Available  For  Distribution  Before
         Interest Payments for the fiscal year; and

4.       To the Interest Holders, the balance.


                                       22

<PAGE>


              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                          NOTES TO FINANCIAL STATEMENTS
                      DECEMBER 31, 2000 AND 1999 CONTINUED


No distributions were paid to the Assignee Interest Holders during 2000, 1999 or
1998.  Future cash  requirements have caused the General Partner to determine it
is not  financially  appropriate  to make  distributions  to  Assignee  Interest
holders.

Cash received from sales or  re-financings  of any Partnership  Property,  after
retirement of applicable  mortgage debt and the payment of all expenses  related
to the  transaction  and any  payments  of debt  service  on the  Pension  Notes
including  interest  at a  non-compounded  rate of 13 percent per annum less any
prior payments (see Note 6) and establishment of reserves,  is to be distributed
in the following order of priority:

1.       To the Assignee  Interest Holders until their adjusted capital accounts
         are reduced to zero;

2.       To the Assignee  Interest Holders until  cumulative cash  distributions
         received  equal a 13 percent  non-compounded  return on their  adjusted
         capital accounts, reduced by prior distributions;

3.       To the General  Partner in the amount of a disposition  fee of not more
         than 3 percent of sales price; and

4.       To the  Assignee  Interest  Holders,  85  percent,  and to the  General
         Partner, 15 percent.

Taxable net income or loss from operations is allocated to the Interest  Holders
as a  class  and  to  the  General  Partner  in  proportion  to  available  cash
distributed  during the fiscal year. If no cash is distributed  during the year,
net income or loss is allocated  90 percent to the  Assignee  Holders as a class
and 10 percent to the General  Partner.  For book purposes in 1998,  the gain on
sale of $9,249,174  was allocated 90 percent to the Assignee  Holders as a class
and 10 percent to the General  Partner.  Other  provisions exist if there is net
income or loss other than from operations. As discussed in Note 7, 2 percent for
2000,  1999 and 1998 of the Cash  Available  For  Distribution  Before  Interest
Payments was paid to the General  Partner.  Accordingly,  net income or loss for
each of the three years in the period ended  December 31, 2000 was  allocated in
the same manner.

The deficit  balance in the Assignee  Limited  Partner  account  reflects  their
percentage interest in the Partnership's  cumulative net losses,  although there
are no restoration  requirements  for the Assignee Limited Partner interest upon
termination of the Partnership.


                                       23

<PAGE>


              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                          NOTES TO FINANCIAL STATEMENTS
                      DECEMBER 31, 2000 AND 1999 CONTINUED


NOTE 6.  PENSION NOTES

The Notes bear stated  simple  interest at a rate equal to 13 percent per annum.
Payment of up to 9 percent of stated  interest  was subject to deferral  through
December  31, 1988 and payment of up to 6 percent of stated  interest is subject
to deferral thereafter.  Deferred interest does not bear interest.  Interest not
deferred is payable quarterly.  Using the effective interest method, interest on
principal and accrued interest of the Pension Notes has been accrued at the rate
of  approximately 9 percent per annum  compounded  quarterly.  The approximate 9
percent effective interest rate was calculated using estimates of the amounts of
interest  that  will be  deferred  and the time  period in which  such  deferred
amounts will be paid. If interest had been provided  based on 13 percent  versus
the  effective  rate of  approximately  9 percent,  an  additional  liability of
approximately  $356,624  would be  recorded  at  December  31,  2000 and  future
interest  expense would be reduced by this amount.  The Partnership made minimum
interest  payments of $1,416,337,  $1,421,799,  and $2,589,891 in 2000, 1999 and
1998, respectively,  to Pension Note Holders. Relating to the sale of properties
on September 30, 1998, the Partnership paid $22,514,174 for a partial redemption
of Pension  Notes,  and paid  $15,703,636  for a partial  redemption of deferred
interest.  The  Partnership's  obligation to repay the  principal  amount of the
Notes,  which mature on December  31,  2001,  and stated  interest  thereon,  is
secured by a lien on the Partnership's assets (see Note 9). The liability of the
Partnership under the Pension Notes is limited to the assets of the Partnership.
The Pension  Notes are subject to  redemption  in whole or in part upon not less
than 30 or more than 60 days prior notice, at the election of the Partnership.

NOTE 7.  DISTRIBUTIONS TO PARTNERS

During  2000,  1999  and  1998,  the  General  Partner  received  distributions,
representing 2 percent of the Cash Available For  Distribution  Before  Interest
Payments  to  the  Pension  Note  Holders.   The  Partnership  did  not  make  a
distribution to the holders of Assignee Interests during 2000, 1999 or 1998.


                                       24

<PAGE>


              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                          NOTES TO FINANCIAL STATEMENTS
                      DECEMBER 31, 2000 AND 1999 CONTINUED


NOTE 8.  INCOME TAXES

The  Partnership  is not taxed on its income.  The  partners  are taxed in their
individual capacities upon their distributive share of the Partnership's taxable
income and are allowed the benefits to be derived from possibly offsetting their
distributive  share of the tax loss against  taxable  income from other  sources
subject  to  application  of  passive  loss  rules and  subject to At Risk basis
limitation.  The taxable  income or loss differs  from  amounts  included in the
statement of operations primarily because of different methods used in computing
depreciation  and interest on the Notes and  determining  start-up and marketing
expenses for financial reporting and federal income tax purposes.

In the event  funds are not  sufficient  to pay  outstanding  Pension  Notes and
deferred interest at maturity,  income may be recognized to the Assignee Holders
for any forgiven debt.

For federal  income tax  purposes,  the  Partnership  computes  depreciation  of
buildings and improvements  using the Modified  Accelerated Cost Recovery System
(MACRS) and the  Accelerated  Cost Recovery  System (ACRS),  while for financial
statement  purposes,  depreciation is computed using the  straight-line  method.
Interest on Pension  Notes is  computed  in  accordance  with  Internal  Revenue
Service regulations for original issue discount for federal income tax purposes,
while for financial  statement  purposes,  interest on Pension Notes is computed
using the effective interest method. Start-up and marketing costs incurred prior
to initial  occupancy  were  capitalized  and  amortized  over sixty  months for
federal income tax purposes,  only those  start-up and marketing  costs that are
expected to benefit future  operations have been  capitalized and amortized over
sixty months for financial statement purposes.



                                       25
<PAGE>


              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                          NOTES TO FINANCIAL STATEMENTS
                      DECEMBER 31, 2000 AND 1999 CONTINUED

Reconciliation  between  financial  statement net (income) loss and net (income)
loss for tax purposes follows:
<TABLE>
<CAPTION>

                                                                                Years Ended December 31,
                                                                     2000                1999                1998
                                                                     ----                ----                ----
<S>                                                            <C>                <C>                 <C>

Net (income) loss per financial statements                     $   2,473,796      $   2,474,347       $  (3,409,569)

Temporary  differences  in  determining  (income)
 losses for federal income tax purposes:
      Gain on sale of properties                                           -                  -          (4,168,952)
      Depreciation                                                   218,987            217,692             289,778
      Amortization of start-up and marketing costs                     2,141            (45,064)            (65,660)
      Interest expense - Pension Notes                            (1,933,772)         2,282,306          (2,932,081)
      Miscellaneous                                                    5,540             13,354              76,426
                                                               -------------      -------------       -------------

Net (income) loss per tax return                               $     766,692      $   4,942,635       $  (4,345,896)
                                                               =============      =============       =============

</TABLE>


For federal income tax purposes, the basis of building and improvements,  net of
accumulated  depreciation,  was $15,153,644 and $15,352,637 at December 31, 2000
and 1999, respectively.

NOTE 9.  DISSOLUTION OF PARTNERSHIP

On December 31, 2001, the Pension Notes and deferred  interest of  approximately
$38,688,000  will  mature and become due.  Given the level of the  Partnership's
cash reserves at December 31, 2000 and estimated  value of  Partnership  assets,
the  Partnership  is not  expected to have  sufficient  funds to fully repay the
maturing Pension notes and deferred interest on December 31, 2001.  Accordingly,
the Partnership  does not expect to have any funds available for distribution to
the Assignee Holders.

If the Pension Notes are not fully paid at their maturity,  a default will occur
under the Pension  Notes and Trust  Indenture  under which the Pension Notes are
administered.   In  such  event,   the  Trustee  may  choose  to  liquidate  the
Partnership's assets in an effort to satisfy the Pension Notes. A concern arises
that such a sale may be a "fire" or "distressed" sale and, as a result,  may not
yield the maximum value for the  Partnership's  assets.  Further  concern arises
from the apparent  weakening in the sales market for senior living  communities.
Because of these  factors and the  savings  that may be  obtained  from  earlier
payment on the  Pension  Notes,  the  General  Partner  has deemed it prudent to
dissolve the  Partnership  and sell its remaining asset to obtain the best terms
for a sale and  accordingly,  maximize value  realization  of the  Partnership's
remaining asset.

                                       26

<PAGE>


              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                          NOTES TO FINANCIAL STATEMENTS
                      DECEMBER 31, 2000 AND 1999 CONTINUED

Accordingly, on February 12, 2001, the General Partner notified the Note Holders
and Assignee Holders of it intent to dissolve the Partnership  effective May 21,
2001. The dissolution is subject to the rights of the Limited  Partners to elect
to  continue  the  business  of  the  Partnership.  Following  dissolution,  the
Partnership  will  take all  actions  necessary  to  wind-up  the  Partnership's
business including the sale of all of its remaining assets in an orderly fashion
and, to the extent of the proceeds thereof, pay its creditors and claims.

NOTE 10.  VALUATION OF RENTAL PROPERTY

The  Partnership   records  impairment  losses  on  long-lived  assets  used  in
operations  when  events and  circumstances  indicate  that the assets  might be
impaired  and the  undiscounted  cash flows  estimated  to be generated by those
assets are less than the carrying  amounts of those assets.  If such a shortfall
exists,  a write-down  would be warranted  based on the  estimated  shortfall of
discounted cash flows.  The Partnership  performs such evaluations on an ongoing
basis by comparing the property's net book value to the total  estimated  future
operating  cash flow for years  through 2001 (the year the Pension Notes mature)
plus cash  projected  to be  received  upon an assumed  sale of the  property on
December  31,  2001.  Sales  proceeds,  net of an  estimated  3 percent  cost of
disposal,  are  estimated  using  a 10  percent  capitalization  rate of the net
operating  income  projected for the property for the year 2001. The Partnership
does not believe  there are any  indicators  that would require an adjustment to
the carrying value of its property or the remaining  useful lives as of December
31, 2000.

NOTE 11. FAIR VALUE OF FINANCIAL INSTRUMENTS

The carrying  amounts and fair values of financial  instruments  at December 31,
2000 and 1999 are as follows:
<TABLE>
<CAPTION>

                                                            2000                                 1999
                                                            ----                                 ----
                                                 Carrying            Fair             Carrying            Fair
                                                  Amount             Value             Amount            Value
                                                  ------             -----             ------            -----
<S>                                       <C>               <C>                   <C>               <C>

Cash and cash equivalents                 $    5,492,588    $    5,492,588        $   5,553,357     $    5,553,357
Pension Notes and accrued interest            36,938,253        25,103,925           35,036,889         23,515,417

</TABLE>


Following are methods and assumptions  used by the General Partner in estimating
its fair value disclosures for financial instruments.

Cash and Cash Equivalents

The carrying amounts reported in the balance sheet for cash and cash equivalents
approximate fair value.

                                       27
<PAGE>


              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                          NOTES TO FINANCIAL STATEMENTS
                      DECEMBER 31, 2000 AND 1999 CONTINUED


Pension Notes and Accrued Interest

The fair values of Pension Notes are based on discounted  cash flows at December
31, 2000 and 1999.

NOTE 12.  CONTINGENCIES

On or about  October  23,  1998,  Robert  Lewis  filed a putative  class  action
complaint  on  behalf  of  certain  holders  of  assignee  interests   (Assignee
Interests)  in the  Partnership  in the Delaware  Court of Chancery  against the
Partnership, Capital Senior Living Corporation, Capital Senior Living Properties
2-NHPCT,  Inc. and Capital Realty Group Senior Housing,  Inc.  (collectively the
Defendants).  Mr. Lewis purchased 90 Assignee  Interests in NHP in February 1993
for  $180.  The  complaint  alleges,  among  other  things,  that the  Defendant
breached, or aided and abetted a breach of, the express and implied terms of the
NHP Partnership  Agreement in connection with the sale of four properties by the
Partnership  to Capital  Senior Living  Properties  2-NHPCT,  Inc. The complaint
seeks,  among  other  relief,  rescission  of the sale of these  properties  and
unspecified damages. The Partnership has filed a Motion to Dismiss in this case,
which currently is pending.  The Partnership is unable to estimate the liability
related to this claim, if any.




                                       28

<PAGE>



ITEM 9.  CHANGES  IN  AND  DISAGREEMENTS  WITH  ACCOUNTANTS  ON  ACCOUNTING  AND
         FINANCIAL DISCLOSURE

There  have  been no  changes  in or  disagreements  with  accountants  that are
required to be reported herein.

                                    PART III

ITEM 10. DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

The Partnership has no directors, executive officers or significant employees of
its own.

On January 23, 1995,  CRGSH became the sole General Partner of the  Partnership.
CRGSH is a privately owned corporation  initially organized on December 1, 1988.
Its principal  business  activity has been the ownership and  management of real
property for its own account and for the account of various limited Partnerships
of which it is the General  Partner.  Prior to June 10,  1998,  CRGSH was wholly
owned  subsidiary  of Capital  Realty  Group  Corporation,  a Texas  corporation
(Capital), with its corporate headquarters in Dallas, Texas. Capital is owned by
James A.  Stroud  (50  percent  through  a trust)  and by  Jeffrey  L.  Beck (50
percent).

On June 10,  1998,  Capital  sold all of its  shares  of CRGSH  common  stock to
Retirement  Associates,  Inc. (Associates) for $855,000. The source of the funds
is a Promissory  Note for $855,000 with a five-year term and bearing an interest
rate of 8 percent per annum since  December 1, 1999.  Prior to December 1, 1999,
the Promissory  Note had an interest rate of 10 percent per annum;  the interest
rate was decreased to adjust to a market rate and in  consideration of an early,
unscheduled  payment of interest due. The remaining  interest will accrue on the
Promissory  Note  and  be  payable  at the  maturity  of  the  Promissory  Note.
Associates  is the  maker of the Note  and  Capital  is the  payee.  Mr.  Robert
Lankford is the President of Associates and has had prior business relationships
with Messrs. Beck and Stroud, the former principals of CRGSH. From 1988 to 1997,
Mr.  Lankford was an  independent  broker with Capital  Realty Group  Brokerage,
Inc., an affiliate of Capital.  From 1997 to the present,  however, Mr. Lankford
has  been a  principal  with  Kamco  Property  Company  Commercial  Real  Estate
Brokerage.  In this capacity,  Mr. Lankford provides independent commercial real
estate brokerage  services for various clients  including  Capital Senior Living
Corporation,  which accounts for less than 20 percent of his  compensation.  The
address  of the  principal  executive  offices  of CRGSH is 3516  Merrell  Road,
Dallas, Texas 75229.

The  Partnership  properties  during  1994 and through  February  1, 1995,  were
managed by CRGSH.  On February 1, 1995,  CRGSH  assigned its contract  rights to
manage the Partnership's properties to Capital Senior Living (CSL), a subsidiary
of Capital Senior Living Corporation.

                                       29
<PAGE>


Following are directors and executive  officers of CRGSH, the General Partner of
the Partnership.

              Name                               Position

              Robert L. Lankford    President, Retirement Associates, Inc., sole
                                    stockholder of CRGSH, the General Partner

              Wayne R. Miller       Secretary, Retirement Associates, Inc.



Robert L. Lankford

Robert L.  Lankford,  age 46, has served as President of Retirement  Associates,
Inc. since June 1997. From 1988 to 1997, Mr. Lankford was an independent  broker
with Capital Realty Group Brokerage, Inc., an affiliate of Capital. From 1997 to
the present,  however,  Mr.  Lankford has been a principal  with Kamco  Property
Company  Commercial  Real  Estate  Brokerage.  In this  capacity,  Mr.  Lankford
provides  independent  commercial  real estate  brokerage  services  for various
clients  including  Capital Senior Living  Corporation,  which accounts for less
than 20 percent of his compensation.

Wayne R. Miller

Wayne R. Miller, age 51, has served as Secretary of Retirement Associates,  Inc.
since June 1997.  From 1980 to 1994,  Mr.  Miller was an officer,  director  and
shareholder  of Miller,  Hiersche,  Martens and Hayward,  Inc.  From 1994 to the
present,  Mr. Miller has been President,  Sole Director and Sole  Shareholder of
Wayne R. Miller P.C.

Section 16(a) Beneficial Ownership Reporting Compliance

Based  solely  upon a  review  of Forms  3, 4 and 5 and any  amendments  thereto
furnished to the  Partnership  pursuant to Rule 16a-3(c) of the  Securities  and
Exchange  Commission (SEC) rules, the Partnership is not aware of any failure of
any officer or director of CRGSH or beneficial owner of more than ten percent of
the Assignee  Interests to file timely with the SEC any Forms 3, 4 or 5 relating
to the Partnership for 2000.

ITEM 11.  EXECUTIVE COMPENSATION

NHP  Retirement  Housing  Partners  I Limited  Partnership  has no  officers  or
directors.  However,  various  fees and  reimbursements  are paid to the General
Partner  or its  affiliates.  Such fees paid or  accrued  during  the year ended
December 31, 2000 included cash distributions of $28,875 to the General Partner,
which  represents 2 percent of cash available for  distribution  before interest
payments to the Note Holders. See Item 8, Financial Statements and Supplementary
Data.

ITEM 12.  SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

No person is known by the  Partnership  to own more than 5 percent  of  Assignee
Interests.

                                       30
<PAGE>



As  of  March  1,  2001,  a  former  affiliate  of  the  General  Partner,  owns
approximately   14,131  Pension  Notes,  or  approximately  33  percent  of  the
Partnership's outstanding Pension Notes.

ITEM 13.  CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS.

Except as described in Items 8 (Note 3 in the Financial Statements),  10, 11 and
12, the Partnership had no other  transactions  or business  relationships  with
CRGSH or its affiliates.

                                     PART IV

ITEM 14.  EXHIBITS, FINANCIAL STATEMENT SCHEDULES AND REPORTS ON FORM 8-K

Financial Statements

Following are the financial  statements,  notes and reports  listed  included in
this report.

<TABLE>
<CAPTION>

                                                                                      Page
                                                                                      ----
               <S>                                                                    <C>

               Report of Ernst & Young LLP, Independent Auditors                      11

               Statements of Financial Position,
                December 31, 2000 and 1999                                            12

               Statements of Operations for the Years
                Ended December 31, 2000, 1999 and 1998                                13

               Statements of Partners' Equity (Deficit)
                for the Years Ended December 31, 2000, 1999
                and 1998                                                              14

               Statements of Cash Flows for the
                Years Ended December 31, 2000, 1999 and 1998                          15

               Notes to Financial Statements                                          17

</TABLE>

Financial Statement Schedules

All schedules have been omitted as the required  information is  inapplicable or
the information is presented in the financial statements or related notes.

                                       31
<PAGE>



Exhibits

27.1 Financial Data Schedule

Reports on Form 8-K

None.

                                   SIGNATURES

Pursuant to the  requirements of Section 13 or 15(d) of the Securities  Exchange
Act of 1934,  the  Registrant  has duly  caused  this Report to be signed on its
behalf by the undersigned, thereunto duly authorized.

NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP

By:  CAPITAL REALTY GROUP SENIOR HOUSING, INC.
     General Partner

         By:  /s/ Robert L. Lankford
              ----------------------
              ROBERT L. LANKFORD, President
              March 28, 2001




                                       32