FORM 10-Q
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                   QUARTERLY REPORT UNDER SECTION 13 OR 15(D)
                     OF THE SECURITIES EXCHANGE ACT OF 1934

                 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 1997

                         COMMISSION FILE NUMBER 0-16815

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


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


                         14160 DALLAS PARKWAY, SUITE 300
                                DALLAS, TX 75240
                    (Address of principal executive offices)
                                   (Zip Code)


                                 (214) 770-5600
              (Registrant's telephone number, including area code)

                                 NOT APPLICABLE
              (Former name, former address and former fiscal year,
                         if changed since last report)

         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  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

              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                              A LIMITED PARTNERSHIP
                        STATEMENTS OF FINANCIAL POSITION
<TABLE>
<CAPTION>

                                                                        March 31, 1997              December 31, 1996
                                                                        --------------              -----------------
                                            ASSETS
                                            ------
<S>                                                                    <C>                         <C>              
Cash and cash equivalents                                              $     4,321,081              $       4,017,181
Interest receivable                                                              1,200                          1,200
Other receivables                                                               34,924                         28,363
Pension notes issuance costs                                                 1,200,936                      1,264,634
Organization and offering costs                                                252,658                        265,102
Prepaid expenses                                                               289,964                        285,111
Rental property:
         Land                                                                6,318,028                      6,318,028
         Building, net of accumulated depreciation of
           $14,168,469 in 1997 and $13,752,920 in 1996                      43,510,305                     43,853,213       
Other assets                                                                    37,657                         39,052
                                                                        --------------              -----------------

Total assets                                                           $    55,966,753              $      56,071,884
                                                                        ==============               ================
                                                               


                        LIABILITIES AND PARTNERS' DEFICIT

Liabilities:
         Accounts payable                                              $       368,731              $         336,446
         Interest payable                                                   21,437,507                     20,681,172
           Pension notes                                                    42,672,000                     42,672,000
         Other liabilities                                                     841,938                        818,377
                                                                        --------------               ----------------

                                                                            65,320,176                     64,507,995
                                                                        --------------               ----------------
Partners' deficit:
         General Partner-NHP/RHGP-I Limited
            Partnership                                                     (1,498,653)                    (1,465,252)
         Assignor Limited Partner-NHP RHP-I
            Assignor Corporation-42,691 investment
            units outstanding                                               (7,854,770)                    (6,970,859)
                                                                        --------------               ----------------      

Total partners' deficit                                                     (9,353,423)                    (8,436,111)
                                                                        --------------               ----------------

Total liabilities and partners' deficit                                $    55,966,753              $      56,071,884
                                                                        ==============               ================
</TABLE>




<PAGE>


              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP

                              A LIMITED PARTNERSHIP

                             STATEMENT OF OPERATIONS

                    FOR THE THREE MONTHS ENDED MARCH 31, 1997
<TABLE>
<CAPTION>

                                                                             Three months ended March 31,
                                                                            1997                     1996
                                                                            ----                     ----
REVENUE:                                                                   
<S>                                                                  <C>                      <C>        
         Rental income                                               $  3,774,565             $ 3,547,821
         Interest income                                                   24,420                  18,142
         Other income                                                      41,772                  44,760
                                                                     ------------            ------------

                                                                        3,840,757               3,610,723
                                                                     ------------            ------------
COSTS AND EXPENSES:
         Salaries, related benefits and overhead reimbursements         1,003,343                 979,174
         Management fees, dietary fees and other services                 373,535                 351,062
         Administrative and marketing                                     128,973                 155,092
         Utilities                                                        256,345                 239,289
         Maintenance                                                      115,405                 102,569
         Resident services, other than salaries                            71,389                  69,736
         Food services, other than salaries                               385,682                 376,444
         Depreciation                                                     415,548                 411,634
         Taxes and insurance                                              279,797                 269,248
                                                                     ------------            ------------

                                                                        3,030,017               2,954,248
                                                                     ------------            ------------

INCOME FROM RENTAL OPERATIONS                                             810,740                 656,475
                                                                     ------------            ------------

COSTS AND EXPENSES:
         Interest expense - pension notes                               1,509,068               1,441,688
         Amortization of pension notes issuance costs                      63,698                  63,698
         Amortization of organization and offering costs                   12,444                  12,444
         Other expenses                                                   127,480                  76,726
                                                                     ------------            ------------

                                                                        1,712,690               1,594,556
                                                                     ------------            ------------

NET (LOSS)                                                           $   (901,950)           $   (938,081)
                                                                     ============            ============

NET (LOSS) PER ASSIGNEE INTEREST                                     $        (21)           $        (22)
                                                                     ============            ============
</TABLE>



<PAGE>


              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                              A LIMITED PARTNERSHIP
                         STATEMENT OF PARTNERS' DEFICIT
                    FOR THE THREE MONTHS ENDED MARCH 31, 1997


<TABLE>
<CAPTION>

                                                         GENERALPARTNER
                                                      CAPITAL REALTY GROUP            ASSIGNOR LIMITED
                                                      SENIOR HOUSING, INC.                PARTNER               TOTAL
                                                      --------------------            ----------------          -----

Partners' deficit
<S>                                                     <C>                          <C>                   <C>           
         at December 31, 1996                           $     (1,465,252)            $   (6,970,859)       $  (8,436,111)

Distributions                                                    (15,362)                         0              (15,362)

Net Loss - Three months
         ended March 31, 1997                                    (18,039)                  (883,911)            (901,950)
                                                         ---------------              -------------         ------------

Partners' deficit
         at March 31, 1997                              $     (1,498,653)            $   (7,854,770)       $  (9,353,423)
                                                         ===============              =============         ============
                                                      
Percentage interest
         at March 31, 1997                                       2%                          98%                   100%
                                                                 ==                          ===                   ====
</TABLE>



<PAGE>


              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                              A LIMITED PARTNERSHIP
                            STATEMENTS OF CASH FLOWS

<TABLE>
<CAPTION>

                                                                           Three months ended March 31,
                                                                          1997                      1996
                                                                          ----                      ----

Cash flows from operating activities:
<S>                                                                  <C>                       <C>         
         Rent collections                                            $  3,768,004              $  3,567,126
         Interest received                                                 24,420                    16,877
         Other income                                                      41,772                    44,760
         Salary and related benefits                                   (1,005,993)                 (979,174)
         Management fees, dietary fees
           and other services                                            (374,368)                 (353,868)
         Other operating expenses paid                                 (1,309,200)               (1,323,647)
         Interest paid                                                   (752,733)                 (752,734)
                                                                         --------                  --------
         Net cash provided by
           operating activities                                           391,902                   219,340
                                                                          -------                   -------
Cash flows from investing activities:
         Capital Expenditures                                             (72,640)                 (112,705)
                                                                          -------                  --------

         Net cash used in investing activities                            (72,640)                 (112,705)
                                                                          -------                  --------
Cash flows from financing activities:
         Distributions                                                    (15,362)                  (15,362)
                                                                          -------                   -------

         Net cash used in financing activities                            (15,362)                  (15,362)
                                                                          -------                   -------
Net increase in cash and
         cash equivalents                                                 303,900                    91,273
                                                                        
Cash and cash equivalents
         at beginning of period                                         4,017,181                 3,478,604
                                                                        ---------                 ---------
Cash and cash equivalents
         at end of period                                            $  4,321,081              $  3,569,877
                                                                        =========                 =========
</TABLE>



<PAGE>


              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                              A LIMITED PARTNERSHIP
                            STATEMENTS OF CASH FLOWS

                                   (CONTINUED)


<TABLE>
<CAPTION>

                                                                                   Three months Ended March 31,
                                                                                  1997                      1996
                                                                                  ----                      ----
RECONCILIATION OF NET LOSS TO NET CASH
         PROVIDED BY OPERATING ACTIVITIES:

<S>                                                                         <C>                         <C>         
Net loss                                                                    $  (901,950)                $  (938,081)

Adjustments to reconcile net loss to net cash used in operating activities:
           Depreciation                                                         415,548                     411,634
           Amortization of organization
             and offering costs                                                  12,444                      12,444
           Amortization of pension notes
             issuance costs                                                      63,698                      63,698

Changes in operating assets and liabilities:
           Interest receivable                                                        0                      (1,265)
           Other assets and receivables                                          (5,166)                    848,180
           Prepaid expenses                                                      (4,853)                     (4,600)
           Accounts payable                                                      32,285                    (136,067)
           Interest payable                                                     756,335                     688,954
           Purchase installments                                                      0                    (552,000)
           Other liabilities                                                     23,561                    (173,557)

                  Total adjustments                                           1,293,852                   1,157,421
                                                                              ---------                   ---------

Net cash provided by
  in operating activities                                                   $   391,902                 $   219,340
                                                                           ============                ============
</TABLE>




<PAGE>

              NHP RETIREMENT HOUSING PARTNERS I LIMITED PARTNERSHIP
                              A LIMITED PARTNERSHIP
                          NOTES TO FINANCIAL STATEMENTS


(1)    ACCOUNTING POLICIES

       NATURE OF BUSINESS

       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.

       BASIS OF PRESENTATION

       The  accompanying  unaudited  interim  financial  statements  reflect all
       adjustments which are, in the opinion of management, necessary to present
       a fair statement of the financial condition and results of operations for
       the interim periods presented.

       While the General  Partner  believes that the  disclosures  presented are
       adequate to make the  information  not  misleading,  it is suggested that
       these  financial  statements  be read in  conjunction  with the financial
       statements  and the notes  included in the  Partnership's  Annual Reports
       filed in Forms 10-K for the year ended December 31, 1996.


(2)  TRANSACTIONS WITH THE GENERAL PARTNER AND AFFILIATES OF THE GENERAL PARTNER

       Until January 23, 1995, the sole general  partner of the  Partnership was
       NHP/RHGP-1  Limited  Partnership  (NHP/RHGP-1).  On  December  19,  1991,
       NHP/RHGP-1  executed  an amended and  restated  purchase  agreement  with
       Capital  Realty  Group  Properties,  Inc.  (CRGP) for the transfer of the
       General Partner's interest in the Partnership, subject to the approval of
       holders of Interests ("Assignee  Holders.") CRGP's rights and obligations
       under the purchase agreement were subsequently assigned to Capital Realty
       Group Senior Housing,  Inc. (CRGSH).  Pursuant to a Consent  Solicitation
       dated  October 25, 1994,  Assignee  Holders  holding more than 64% 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 has become the new sole general  partner of the  Partnership
       and NHP/RHGP-I has withdrawn as general partner.

       Personnel working at the Property sites and certain home office personnel
       who perform  services for the Partnership are employees of Capital Senior
       Living, Inc. (CSL), an affiliate of CRGSH. The Partnership reimburses CSL
       for the salaries,  related benefits, and overhead  reimbursements of such
       personnel as reflected in the accompanying financial statements.  Salary,
       related benefits and overhead  reimbursements  reimbursed and expensed by
       the  Partnership to CSL for the first fiscal quarter ended March 31, 1997
       and 1996, were $1,003,343 and $979,174,  respectively.  Management  fees,
       dietary  fees  and  other   services


<PAGE>

       reimbursed and expensed by the  Partnership  to CSL for the first  fiscal
       quarter ended March  31,  1997 and  1996,  were  $373,535  and  $351,062,
       respectively.

       Distributions  of $15,362  were made to the  General  Partner  during the
       three months ended March 31, 1997.

(3)    VALUATION OF RENTAL PROPERTY

       Generally  accepted  accounting  principles  require that the Partnership
       evaluate  whether it is probable that the estimated  undiscounted  future
       cash flows of its properties,  taken individually,  will be less than the
       respective net book value of the properties.  If such a shortfall  exists
       and is material, then a write-down is warranted. The Partnership performs
       such  evaluations  on an on-going  basis.  During the three  months ended
       March 31, 1997, based on the Partnership's  evaluation of each respective
       property,  the Partnership did not believe that any additional write-down
       was warranted.


ITEM 2. MANAGEMENT'S  DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
 OF OPERATIONS


LIQUIDITY AND CAPITAL RESOURCES

The following  schedule  summarizes the occupancy  levels at the four properties
wholly owned by the Partnership and at Amberleigh in which the Partnership has a
99.9% partnership interest.
<TABLE>
<CAPTION>

                                                                   Available             March 31            March 31
                                                                     Units                 1997                1996
                                                                     -----                 ----                ----

<S>                                                                   <C>                   <C>                 <C>
The Amberleigh                                                        271                   97%                 95%
The Atrium at Carmichael                                              153                   97%                 89%
Crosswood Oaks                                                        122                   88%                 82%
Heatherwood                                                           160                   79%                 90%
Veranda Club                                                          189                   96%                 92%
</TABLE>


Rent collections for the three month period increased to $3,768,004 in 1997 from
$3,567,126 in 1996, or 5.6%,  primarily from rental rate increases and increased
occupancies.  Salaries,  management  fees  and  other  operating  expenses  paid
likewise  increased,  from  $2,656,689  in 1996 to  $2,689,561  in 1997 or 1.2%,
primarily from increased  salary and related benefits  expenses,  and management
fees, dietary fees, and other services.

Cash generated from rental  operations  prior to the payment of interest expense
was  sufficient  to pay all of the  interest  on the  Pension  Notes,  which was
$752,733 for the three month period ended March 31, 1997. Net cash provided from
operations, after the payment of interest expense, during the three months ended
March 31, 1997 and 1996 was $391,902 and $219,340, respectively. Interest on the
Pension Notes is accrued at a 13% rate, which totaled  $1,509,068 and $1,441,688
for the three  months ended March 31, 1997 and 1996,  respectively,  but is paid
based on a 7% pay rate. The remaining 6% unpaid portion  continues to be accrued
and  is  due  at  maturity.  Total  accrued  and  unpaid  interest  amounted  to
$21,437,507   and   $20,681,172  at  March  31,  1997  and  December  31,  1996,
respectively.

<PAGE>

Capital expenditures decreased $40,065 from $112,705 in 1996 to $72,640 in 1997.
Capital  improvement  programs  implemented at several of the properties  during
1995 continued during 1996 and 1997.

Cash and cash  equivalents  at March 31, 1997 and December 31, 1996  amounted to
$4,321,081 and $4,017,181, respectively.

If operations do not improve  significantly  in the long-term,  future funds may
not be available to meet operating requirements,  including the ultimate payment
of principal  and  deferred  interest on the Pension  Notes.  This cash need has
caused the General Partner to determine that it is not  financially  appropriate
to make distributions to Assignee Holders.  The General Partner anticipates that
distributions   will   continue  to  be  suspended   until   operating   results
significantly improve.

Although cash flow from  operations  improved in 1996 and 1997,  cash  generated
from  operations over the past several years prior to 1994 had not been adequate
to meet the  Partnership's  minimum  interest payment  requirements.  The annual
shortfall was approximately $59,000 during 1993, and averaged approximately $1.5
million  annually in the five-year  period prior to 1993. The shortfall has been
funded by Partnership's  cash reserves,  which  principally  resulted from funds
remaining from the initial offering of Partnership  Interests and Pension Notes,
after the  acquisition of the  Partnership's  properties.  If interest  payments
continue to be deferred at the current rate of 6%, the total  accrual for unpaid
interest and principal  will  approximate  $81 million at December 31, 2001, the
maturity  date of the Pension  Notes,  which is far in excess of projected  cash
reserves.  Accordingly,  there will need to be very significant  improvements in
cash flows from operations  and/or  increases in the disposition and refinancing
values of the Properties to fund both the accrued interest and the face value of
the Pension  Notes upon their  maturity.  Management's  plans are to continue to
manage the Properties  prudently to achieve  positive cash flows from operations
after interest payments.


RESULTS OF OPERATIONS

The  Partnership's  net loss for the three months ended March 31, 1997  includes
rental operations from each of the Partnership's  properties.  The net loss also
includes   depreciation,   amortization   of  Pension  Notes   issuance   costs,
amortization  of  organization  and  offering  costs and  accrued  Pension  Note
interest expense which are noncash in nature.

The  Partnership's  net loss  decreased  from $938,081 to $901,950 for the three
month period ending March 31, 1996 and 1997, respectively. Net loss per Interest
decreased from $22 to $21 for the 42,691 Interests, respectively. This decreased
loss was  principally  due to increased  rental income and  occupancies.  Rental
income  increased to  $3,774,565  for the three months ended March 31, 1997 from
$3,547,821 for the same period in 1996, or  approximately  6.4%,  primarily as a
result of rental rate increases.  Rental  expenses  increased to $3,030,017 from
$2,954,248  for  the  three  month  period  ending  March  31,  1997  and  1996,
respectively,  or 2.6%. Increased rental expense was primarily due to inflation.
Pension Note interest  expense  increased from  $1,441,688 to $1,509,068 for the
three month periods ending March 31, 1996 and 1997 respectively.  Other expenses
relating to  Partnership  administration  increased from $76,726 to $127,480 for
the three month periods ending March 31,1996 and 1997,  respectively.  Increased
other expenses was primarily due to increased professional fees.

As discussed previously,  the Partnership performs an on-going evaluation of the
individual  carrying  value  of  each of the  rental  properties.  Based  on the
Partnership's  evaluation  of these  carrying  values at March 31, 1997,  it was
determined that no additional  write-downs were warranted.  The 


<PAGE>

Partnership  will  continue  to  evaluate  the  properties  in the  future,  and
additional write-downs may be necessary.

PART II

All items not applicable.

<PAGE>
        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/Keith Johannessen
        --------------------
        Keith Johannessen
        President

Date:   May 13, 1997