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



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

                                   Form 10-QSB

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

                    For the quarterly period ended June 30, 2001


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


                For the transition period from _________to _________

                         Commission file number 0-15675


                             DAVIDSON GROWTH PLUS, L.P.
         (Exact name of small business issuer as specified in its charter)



         Delaware                                           52-1462866
(State or other jurisdiction of                          (I.R.S. Employer
 incorporation or organization)                         Identification No.)

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

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


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



<PAGE>



                         PART I - FINANCIAL INFORMATION

ITEM 1.     FINANCIAL STATEMENTS

a)

                             DAVIDSON GROWTH PLUS, L.P.

                           CONSOLIDATED BALANCE SHEET
                                   (Unaudited)
                          (in thousands, except unit data)

                                  June 30, 2001

<TABLE>
<CAPTION>


Assets
<S>                                                                          <C>
   Cash and cash equivalents                                                 $  424
   Receivables and deposits                                                      71
   Restricted escrows                                                           178
   Other assets                                                                 306
   Investment properties:
       Land                                                  $ 4,650
       Buildings and related personal property                 21,183
                                                               25,833
       Less accumulated depreciation                          (12,286)       13,547
                                                                           $ 14,526
Liabilities and Partners' (Deficit) Capital
Liabilities
   Accounts payable                                                          $ 26
   Tenant security deposit liabilities                                           95
   Accrued property taxes                                                       266
   Other liabilities                                                            177
   Mortgage notes payable                                                    14,305

Minority interest                                                                31

Partners' (Deficit) Capital
   General partners                                           $ (829)
   Limited partners (28,371.75 units issued and
      outstanding)                                                455          (374)
                                                                           $ 14,526


            See Accompanying Notes to Consolidated Financial Statements

</TABLE>

<PAGE>

b)

                             DAVIDSON GROWTH PLUS, L.P.

                      CONSOLIDATED STATEMENTS OF OPERATIONS
                                   (Unaudited)
                          (in thousands, except unit data)

<TABLE>
<CAPTION>

                                           Three Months               Six Months
                                          Ended June 30,            Ended June 30,
                                        2001         2000          2001        2000

 Revenues:
<S>                                   <C>           <C>          <C>          <C>
    Rental income                     $ 1,399       $ 1,345      $ 2,787      $ 2,637
    Other income                           92           115          207          189
          Total revenues                1,491         1,460        2,994        2,826

 Expenses:
    Operating                             490           496          996          993
    General and administrative             71            72          136          128
    Depreciation                          251           244          500          481
    Interest                              288           250          579          502
    Property taxes                        119           120          251          237
          Total expenses                1,219         1,182        2,462        2,341

 Income before minority interest
    in net income of joint venture        272           278          532          485
 Minority interest in net income
    of joint venture                      (22)          (24)         (51)         (40)

 Net income                            $ 250         $ 254        $ 481        $ 445

 Net income allocated to general
    partners (3%)                       $ 7           $ 8          $ 14        $ 13
 Net income allocated to limited
    partners (97%)                        243           246          467          432

                                       $ 250         $ 254        $ 481        $ 445

 Net income per limited
    partnership unit                   $ 8.56       $ 8.67       $ 16.46      $ 15.23

 Distributions per limited
    partnership unit                  $ 12.79       $ 15.55      $ 39.79      $ 23.76

            See Accompanying Notes to Consolidated Financial Statements

</TABLE>

<PAGE>


c)

                             DAVIDSON GROWTH PLUS, L.P.

          CONSOLIDATED STATEMENT OF CHANGES IN PARTNERS' (DEFICIT) CAPITAL
                                   (Unaudited)
                          (in thousands, except unit data)

<TABLE>
<CAPTION>


                                     Limited
                                   Partnership    General      Limited
                                      Units      Partners     Partners       Total

<S>                                 <C>             <C>        <C>          <C>
Original capital contributions      28,371.75       $ 1        $28,376      $28,377

Partners' (deficit) capital at
   December 31, 2000                28,371.75     $ (808)      $ 1,117       $ 309

Distributions to partners                  --         (35)      (1,129)      (1,164)

Net income for the six
   months ended June 30, 2001              --          14          467          481

Partners' (deficit) capital
   at June 30, 2001                 28,371.75     $ (829)       $ 455        $ (374)


            See Accompanying Notes to Consolidated Financial Statements
</TABLE>


<PAGE>

d)

                             DAVIDSON GROWTH PLUS, L.P.

                      CONSOLIDATED STATEMENTS OF CASH FLOWS
                                   (Unaudited)
                                   (in thousands)

<TABLE>
<CAPTION>

                                                                  Six Months Ended
                                                                        June 30,
                                                                  2001        2000
Cash flows from operating activities:
<S>                                                              <C>          <C>
  Net income                                                     $ 481        $ 445
  Adjustments to reconcile net income to net cash
   provided by operating activities:
      Depreciation                                                  500          481
      Amortization of discounts and loan costs                       33           50
      Minority interest in net income of joint venture               51           40
      Change in accounts:
         Receivables and deposits                                   364          177
         Other assets                                               (43)         (21)
         Accounts payable                                           (90)          29
         Tenant security deposit liabilities                        (11)          (8)
         Accrued property taxes                                      13           43
         Other liabilities                                          (17)         (14)
            Net cash provided by operating activities             1,281        1,222

Cash flows from investing activities:
  Property improvements and replacements                           (180)        (382)
  Net deposits to restricted escrows                                 (2)        (162)
            Net cash used in investing activities                  (182)        (544)

Cash flows from financing activities:
  Payments on mortgage notes payable                               (132)        (138)
  Loan costs paid                                                   (16)          --
  Distributions to partners                                      (1,164)        (695)
  Distributions to minority partner                                (124)         (83)
            Net cash used in financing activities                (1,436)        (916)

Net decrease in cash and cash equivalents                          (337)        (238)
Cash and cash equivalents at beginning of period                    761          746
Cash and cash equivalents at end of period                       $ 424        $ 508

Supplemental disclosure of cash flow information:
  Cash paid for interest                                         $ 507        $ 453

            See Accompanying Notes to Consolidated Financial Statements

</TABLE>

<PAGE>

e)

                             DAVIDSON GROWTH PLUS, L.P.

                     NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
                                   (Unaudited)


Note A - Basis of Presentation

The accompanying  unaudited consolidated financial statements of Davidson Growth
Plus, L.P. (the  "Partnership" or "Registrant") have been prepared in accordance
with generally accepted accounting  principles for interim financial information
and with the  instructions  to Form  10-QSB and Item 310(b) of  Regulation  S-B.
Accordingly,  they do not include all of the information and footnotes  required
by generally accepted accounting  principles for complete financial  statements.
In the opinion of Davidson  Growth Plus GP Corporation  (the  "Managing  General
Partner"),  all adjustments (consisting of normal recurring accruals) considered
necessary for a fair presentation have been included.  Operating results for the
three and six month periods ended June 30, 2001, are not necessarily  indicative
of the results  that may be expected  for the fiscal  year ending  December  31,
2001. For further  information,  refer to the consolidated  financial statements
and footnotes thereto included in the Partnership's Annual Report on Form 10-KSB
for the fiscal year ended December 31, 2000. The Managing  General Partner is an
affiliate of Apartment  Investment and Management Company ("AIMCO"),  a publicly
traded real estate investment trust.

Principles of Consolidation

The consolidated financial statements of the Partnership include its 99% limited
partnership  interest in The New Fairways,  LP and its 82.5% general partnership
interest in Sterling  Crest Joint  Venture  ("Sterling  Crest")  which  operates
Brighton  Crest.  Because the  Partnership may remove the general partner of The
New  Fairways,  L.P.  and has a  controlling  interest  in Sterling  Crest,  the
partnerships are controlled and consolidated by the Partnership. All significant
inter-entity balances have been eliminated.

Segment Reporting

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

Note B - Transactions with Affiliated Parties

The  Partnership  has no employees  and is  dependent  on the  Managing  General
Partner  and  its  affiliates  for  the  management  and  administration  of all
Partnership  activities.  Affiliates  of the Managing  General  Partner  provide
property  management  and asset  management  services  to the  Partnership.  The
Partnership  Agreement  provides for (i) payments to affiliates for services and
(ii)  reimbursement of certain expenses  incurred by affiliates on behalf of the
Partnership.

The  following  amounts  were paid or accrued to the  Managing  General  Partner
and/or its affiliates during the six month periods ended June 30, 2001 and 2000:

                                                                  2001      2000
                                                                  (in thousands)

 Property management fees (included in operating expenses)        $153      $144
 Reimbursement for services of affiliates (included in
   general and administrative expense)                              78        55
 Subordinated management fee (included in general and
   administrative expense and other liabilities)                    16        18

During the six months ended June 30, 2001 and 2000,  affiliates  of the Managing
General  Partner were  entitled to receive 5% of gross  receipts from all of the
Partnership's  properties  as  compensation  for providing  property  management
services.  The Partnership  paid to such affiliates  approximately  $153,000 and
$144,000 for the six months ended June 30, 2001 and 2000, respectively.

An  affiliate  of  the  Managing  General  Partner  received   reimbursement  of
accountable  administrative  expenses  amounting  to  approximately  $78,000 and
$55,000 for the six months ended June 30, 2001 and 2000, respectively.

The Partnership Agreement provides for the Managing General Partner to receive a
fee for managing the affairs of the Partnership.  The fee is 2% of adjusted cash
from  operations,  as  defined  in the  Partnership  Agreement.  Payment of this
management fee is  subordinated  and is payable only after the  Partnership  has
distributed,  to the limited partners, adjusted cash from operations in any year
equal to 10% of the limited partners adjusted invested capital as defined in the
Partnership  Agreement  or upon  the  refinance  or sale  of a  property  in the
Partnership.  Unpaid subordinated  Partnership management fees at June 30, 2001,
are approximately  $16,000. This amount reflects the Partnership management fees
for the six month period ended June 30, 2001.

In addition to its  indirect  ownership of the general  partner  interest in the
Partnership,  AIMCO and its affiliates  currently own 15,988 limited partnership
units in the Partnership  representing 56.35% of the outstanding units. A number
of these  units were  acquired  pursuant  to tender  offers made by AIMCO or its
affiliates.  It is possible that AIMCO or its  affiliates  will make one or more
additional offers to acquire  additional  limited  partnership  interests in the
Partnership  for cash or in exchange for units in the operating  partnership  of
AIMCO. Under the Partnership  Agreement,  unitholders  holding a majority of the
Units are  entitled to take action with  respect to a variety of matters,  which
would  include  without   limitation,   voting  on  certain  amendments  to  the
Partnership  Agreement and voting to remove the Managing General  Partner.  As a
result  of its  ownership  of  56.35% of the  outstanding  units,  AIMCO is in a
position to influence all voting decisions with respect to the Registrant.  When
voting on matters, AIMCO would in all likelihood vote the Units it acquired in a
manner  favorable  to the interest of the Managing  General  Partner  because of
their affiliation with the Managing General Partner.

Note C - Distributions to Partners

During the six months ended June 30,  2001,  the  Partnership  declared and paid
distributions  of  approximately  $1,164,000  (approximately  $1,129,000  to the
limited partners or $39.79 per limited  partnership  unit) to its partners.  The
distributions consisted of approximately $898,000 (approximately $871,000 to the
limited  partners or $30.70 per limited  partnership  unit) from  operations and
approximately $266,000  (approximately $258,000 to the limited partners or $9.09
per  limited  partnership  unit) from the  proceeds  of the  refinancing  of the
mortgage loans encumbering The Fairway  Apartments in December 2000.  Subsequent
to June 30, 2001, the  Partnership  declared a distribution  from  operations of
approximately $290,000  (approximately $281,000 to the limited partners or $9.90
per limited partnership unit) to its partners.  During the six months ended June
30, 2000, the Partnership  paid  distributions  from operations of approximately
$695,000  (approximately  $674,000 to the limited partners or $23.76 per limited
partnership unit) to its partners.

Note D - Refinancing of Mortgage Note Payable

On December 15, 2000, the  Partnership  refinanced the mortgage  encumbering The
Fairway  Apartments.  The refinancing  replaced  indebtedness  of  approximately
$3,599,000  with a new  mortgage in the amount of  $6,575,000.  The new mortgage
carries a stated interest rate of 7.27% as compared to the 7.6% interest rate on
the old  mortgage.  Payments on the mortgage loan are due monthly until the loan
matures  on January 1, 2021.  Total  capitalized  loan costs were  approximately
$122,000  during the year ended  December  31,  2000.  Additional  loan costs of
approximately  $16,000  were  capitalized  during the six months  ended June 30,
2001.

Note E - Legal Proceedings

In March 1998, several putative unit holders of limited partnership units of the
Partnership  commenced an action  entitled  Rosalie  Nuanes,  et al. v. Insignia
Financial  Group,  Inc., et al. in the Superior Court of the State of California
for the County of San Mateo. The plaintiffs  named as defendants,  among others,
the  Partnership,  its Managing  General Partner and several of their affiliated
partnerships  and corporate  entities.  The action  purports to assert claims on
behalf of a class of limited  partners and derivatively on behalf of a number of
limited  partnerships  (including  the  Partnership)  which are named as nominal
defendants,  challenging,  among other things,  the  acquisition of interests in
certain general partner entities by Insignia Financial Group, Inc.  ("Insignia")
and entities which were, at one time, affiliates of Insignia; past tender offers
by the Insignia affiliates to acquire limited  partnership units;  management of
the  partnerships  by  the  Insignia  affiliates;  and  the  management  of  the
partnership by the Insignia  affiliates;  and the series of  transactions  which
closed on October 1, 1998 and February  26, 1999  whereby  Insignia and Insignia
Properties  Trust,  respectively,  were merged into AIMCO.  The plaintiffs  seek
monetary damages and equitable  relief,  including  judicial  dissolution of the
Partnership.  On June 25, 1998,  the  Managing  General  Partner  filed a motion
seeking  dismissal  of the action.  In lieu of  responding  to the  motion,  the
plaintiffs  filed an amended  complaint.  The  Managing  General  Partner  filed
demurrers to the amended complaint which were heard February 1999.

Pending the ruling on such  demurrers,  settlement  negotiations  commenced.  On
November 2, 1999,  the parties  executed and filed a Stipulation  of Settlement,
settling claims, subject to court approval, on behalf of the Partnership and all
limited partners who owned units as of November 3, 1999. Preliminary approval of
the  settlement  was obtained on November 3, 1999 from the Court,  at which time
the Court set a final  approval  hearing for  December  10,  1999.  Prior to the
December  10,  1999  hearing,  the  Court  received  various  objections  to the
settlement, including a challenge to the Court's preliminary approval based upon
the alleged lack of authority of prior lead counsel to enter the settlement.  On
December 14, 1999, the Managing  General  Partner and its affiliates  terminated
the  proposed  settlement.  In  February  2000,  counsel  for some of the  named
plaintiffs filed a motion to disqualify plaintiff's lead and liaison counsel who
negotiated  the  settlement.  On June  27,  2000,  the  Court  entered  an order
disqualifying  them  from the case and an  appeal  was  taken  from the order on
October 5, 2000. On December 4, 2000, the Court  appointed the law firm of Lieff
Cabraser  Heimann & Bernstein  LLP as new lead  counsel for  plaintiffs  and the
putative class.  Plaintiffs filed a third amended complaint on January 19, 2001.
On March 2, 2001,  the  Managing  General  Partner  and its  affiliates  filed a
demurrer to the third amended  complaint.  On May 14, 2001,  the Court heard the
demurrer to the third amended  complaint.  On July 10, 2001, the Court issued an
order sustaining defendants' demurrer on certain grounds.  Plaintiffs have until
August 16, 2001 to file a fourth amended complaint. The Managing General Partner
does  not  anticipate  that  any  costs,  whether  legal  or  settlement  costs,
associated  with  this  case  will  be  material  to the  Partnership's  overall
operations.

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

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

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

The Partnership's  investment  properties consist of three apartment  complexes.
The following  table sets forth the average  occupancy of the properties for the
six months ended June 30, 2001 and 2000:

                                                   Average Occupancy
      Property                                      2001       2000

      Brighton Crest Apartments                     94%        93%
         Marietta, Georgia
      The Fairway Apartments                        97%        96%
         Plano, Texas
      The Village Apartments                        94%        96%
         Brandon, Florida

Results of Operations

The Partnership realized net income of approximately $481,000 for the six months
ended June 30, 2001,  compared to net income of  approximately  $445,000 for the
six  months  ended June 30,  2000.  The  Partnership's  net income for the three
months ended June 30, 2001 was approximately  $250,000 compared to net income of
approximately $254,000 for the three months ended June 30, 2000. The increase in
net income for the six months ended June 30, 2001 is due to an increase in total
revenues  partially  offset by an increase in total  expenses and an increase in
minority  interest in income from the joint venture.  The decrease in net income
for the three  month  period  ended June 30, 2001 is due to an increase in total
expenses partially offset by an increase in total revenues.

Total  revenues  increased  for the six month  period  ended June 30,  2001 as a
result  of an  increase  in  rental  income  and other  income.  Total  revenues
increased  for the three  month  period  ended  June 30,  2001 as a result of an
increase in rental income partially offset by a decrease in other income. Rental
income  increased  primarily  due to an increase in average  rental  rates and a
decrease in  concessions  at all of the  Partnership's  properties and increased
occupancy at The Fairway  Apartments  and Brighton Crest  Apartments  which more
than offset the decrease in occupancy  at The Village  Apartments.  Other income
increased  for the six month  period  ended June 30,  2001  primarily  due to an
increase in utilities  reimbursements  at all of the  Partnership's  properties.
Other income  decreased for the three month period ended June 30, 2001 primarily
due to rebates  received  from the  utility  company at The  Village  Apartments
during the three months ended June 30, 2000.

The  increase in total  expenses for the six month period ended June 30, 2001 is
due to  increases  in  depreciation,  interest,  property  tax and  general  and
administrative  expenses.  The  increase in total  expenses  for the three month
period  ended June 30, 2001 is due to  increases  in  depreciation  and interest
expenses.  The  increase  in  depreciation  expense  for the three and six month
periods ended June 30, 2001 is due to capital  improvements  placed into service
during the past twelve months which are now being depreciated.  Interest expense
increased  for the three and six month  periods  ended June 30,  2001 due to the
refinancing  of The Fairway  Apartments in December  2000.  Property tax expense
increased for the six month period ended June 30, 2001 due to an increase in the
assessed value of The Fairway  Apartments.  General and administrative  expenses
increased for the six months ended June 30, 2001 primarily due to an increase in
the cost of services  included in the management  reimbursements to the Managing
General Partner as allowed under the Partnership  Agreement  partially offset by
decreased legal expenses. In addition to these reimbursements,  costs associated
with the  quarterly and annual  communications  with  investors  and  regulatory
agencies and the annual audit  required by the  Partnership  Agreement  are also
included.  The increase in minority  interest in net income of joint venture for
the six month period ended June 30, 2001 is due to an increase in the net income
of the joint venture,  resulting  primarily from increased  average rental rates
and increased occupancy at the joint venture's property, Brighton Crest.

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

Liquidity and Capital Resources

The Partnership held cash and cash equivalents of approximately $424,000 at June
30, 2001,  compared to approximately  $508,000 at June 30, 2000. The decrease in
cash and cash equivalents of approximately  $337,000 from the Partnership's cash
balance at December 31, 2000 is due primarily to approximately  $182,000 of cash
used in  investing  activities  and  approximately  $1,436,000  of cash  used in
financing activities,  which was partially offset by approximately $1,281,000 of
cash  provided  by  operating  activities.  Cash  used in  investing  activities
consisted  primarily of property  improvements and replacements and, to a lesser
extent, net deposits to escrow accounts maintained by the mortgage lenders. Cash
used  in  financing  activities  consisted  primarily  of  distributions  to the
partners,  and to a lesser  extent,  principal  payments  made on the  mortgages
encumbering the Partnership's properties,  distributions to the minority partner
of  Sterling  Crest and loan costs  paid.  The  Partnership  invests its working
capital reserves in interest bearing accounts.

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

Brighton Crest Apartments

During  the  six  months  ended  June  30,  2001,  the   Partnership   completed
approximately  $108,000  of capital  improvements  at the  property,  consisting
primarily  of  plumbing  fixture  upgrades,   carpet  and  vinyl   replacements,
appliances, structural improvements, and wall coverings. These improvements were
funded from  operating  cash flow.  The  Partnership  has  evaluated the capital
improvement  needs of the  property  for the year 2001.  The amount  budgeted is
approximately $129,000,  consisting primarily of water conservation projects and
interior and exterior  building  improvements.  Additional  improvements  may be
considered and will depend on the physical  condition of the property as well as
replacement reserves and anticipated cash flow generated by the property.

Fairway Apartments

During  the  six  months  ended  June  30,  2001,  the   Partnership   completed
approximately  $40,000  of  capital  improvements  at the  property,  consisting
primarily  of  carpet  replacements,   interior  decoration,  and  water  heater
replacements.  These  improvements  were funded from  operating  cash flow.  The
Partnership has evaluated the capital  improvement needs of the property for the
year 2001. The amount budgeted is approximately $89,000, consisting primarily of
air conditioning  unit  replacements,  carpet and vinyl  replacements,  interior
upgrades,  window  treatments,  and appliances.  Additional  improvements may be
considered and will depend on the physical  condition of the property as well as
replacement reserves and anticipated cash flow generated by the property.

The Village Apartments

During  the  six  months  ended  June  30,  2001,  the   Partnership   completed
approximately  $32,000  of  capital  improvements  at the  property,  consisting
primarily of interior decoration,  carpet and vinyl replacements and appliances.
These  improvements  were funded from operating cash flow. The  Partnership  has
evaluated the capital  improvement  needs of the property for the year 2001. The
amount  budgeted  is  approximately   $56,000,   consisting   primarily  of  air
conditioning unit replacement,  appliances,  carpet and vinyl replacements,  and
interior decoration.  Additional  improvements may be considered and will depend
on the physical  condition of the property as well as  replacement  reserves and
anticipated cash flow generated by the property.

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

On December 15, 2000, the  Partnership  refinanced the mortgage  encumbering The
Fairway  Apartments.  The refinancing  replaced  indebtedness  of  approximately
$3,599,000  with a new  mortgage in the amount of  $6,575,000.  The new mortgage
carries a stated interest rate of 7.27% as compared to the 7.6% interest rate on
the old  mortgage.  Payments on the mortgage loan are due monthly until the loan
matures  on January 1, 2021.  Total  capitalized  loan costs were  approximately
$122,000  during the year ended  December  31,  2000.  Additional  loan costs of
approximately  $16,000  were  capitalized  during the six months  ended June 30,
2001.

The Partnership's  current assets are thought to be sufficient for any near-term
needs  (exclusive  of capital  improvements)  of the  Partnership.  The mortgage
indebtedness of approximately  $14,305,000,  net of discounts, is amortized over
periods ranging from  approximately  20 to 29 years with balloon payments due in
2003 of approximately $5,715,000 for Brighton Crest Apartments and approximately
$1,758,000 for The Village Apartments. The Managing General Partner will attempt
to refinance such indebtedness and/or sell the properties prior to such maturity
dates. If the properties  cannot be refinanced or sold for a sufficient  amount,
the Partnership may risk losing such properties through foreclosure.

During the six months ended June 30,  2001,  the  Partnership  declared and paid
distributions  of  approximately  $1,164,000  (approximately  $1,129,000  to the
limited partners or $39.79 per limited  partnership  unit) to its partners.  The
distributions consisted of approximately $898,000 (approximately $871,000 to the
limited  partners or $30.70 per limited  partnership  unit) from  operations and
approximately $266,000  (approximately $258,000 to the limited partners or $9.09
per  limited  partnership  unit) from the  proceeds  of the  refinancing  of the
mortgage loans encumbering The Fairway  Apartments in December 2000.  Subsequent
to June 30, 2001, the  Partnership  declared a distribution  from  operations of
approximately $290,000  (approximately $281,000 to the limited partners or $9.90
per limited partnership unit) to its partners.  During the six months ended June
30, 2000, the Partnership  paid  distributions  from operations of approximately
$695,000  (approximately  $674,000 to the limited partners or $23.76 per limited
partnership unit) to its partners.  Future cash distributions will depend on the
levels of net cash generated from operations,  the availability of cash reserves
and the timing of debt  maturities,  refinancings,  and/or property  sales.  The
Partnership's distribution policy is reviewed on a quarterly basis. There can be
no assurance,  however, that the Partnership will generate sufficient funds from
operations, after required capital improvements, to permit further distributions
to its partners during the year 2001 or subsequent periods.
<PAGE>

                           PART II - OTHER INFORMATION


ITEM 1.     LEGAL PROCEEDINGS

In March 1998, several putative unit holders of limited partnership units of the
Partnership  commenced an action  entitled  Rosalie  Nuanes,  et al. v. Insignia
Financial  Group,  Inc., et al. in the Superior Court of the State of California
for the County of San Mateo. The plaintiffs  named as defendants,  among others,
the  Partnership,  its Managing  General Partner and several of their affiliated
partnerships  and corporate  entities.  The action  purports to assert claims on
behalf of a class of limited  partners and derivatively on behalf of a number of
limited  partnerships  (including  the  Partnership)  which are named as nominal
defendants,  challenging,  among other things,  the  acquisition of interests in
certain general partner entities by Insignia Financial Group, Inc.  ("Insignia")
and entities which were, at one time, affiliates of Insignia; past tender offers
by the Insignia affiliates to acquire limited  partnership units;  management of
the  partnerships  by  the  Insignia  affiliates;  and  the  management  of  the
partnership by the Insignia  affiliates;  and the series of  transactions  which
closed on October 1, 1998 and February  26, 1999  whereby  Insignia and Insignia
Properties  Trust,  respectively,  were merged into AIMCO.  The plaintiffs  seek
monetary damages and equitable  relief,  including  judicial  dissolution of the
Partnership.  On June 25, 1998,  the  Managing  General  Partner  filed a motion
seeking  dismissal  of the action.  In lieu of  responding  to the  motion,  the
plaintiffs  filed an amended  complaint.  The  Managing  General  Partner  filed
demurrers to the amended complaint which were heard February 1999.

Pending the ruling on such  demurrers,  settlement  negotiations  commenced.  On
November 2, 1999,  the parties  executed and filed a Stipulation  of Settlement,
settling claims, subject to court approval, on behalf of the Partnership and all
limited partners who owned units as of November 3, 1999. Preliminary approval of
the  settlement  was obtained on November 3, 1999 from the Court,  at which time
the Court set a final  approval  hearing for  December  10,  1999.  Prior to the
December  10,  1999  hearing,  the  Court  received  various  objections  to the
settlement, including a challenge to the Court's preliminary approval based upon
the alleged lack of authority of prior lead counsel to enter the settlement.  On
December 14, 1999, the Managing  General  Partner and its affiliates  terminated
the  proposed  settlement.  In  February  2000,  counsel  for some of the  named
plaintiffs filed a motion to disqualify plaintiff's lead and liaison counsel who
negotiated  the  settlement.  On June  27,  2000,  the  Court  entered  an order
disqualifying  them  from the case and an  appeal  was  taken  from the order on
October 5, 2000. On December 4, 2000, the Court  appointed the law firm of Lieff
Cabraser  Heimann & Bernstein  LLP as new lead  counsel for  plaintiffs  and the
putative class.  Plaintiffs filed a third amended complaint on January 19, 2001.
On March 2, 2001,  the  Managing  General  Partner  and its  affiliates  filed a
demurrer to the third amended  complaint.  On May 14, 2001,  the Court heard the
demurrer to the third amended  complaint.  On July 10, 2001, the Court issued an
order sustaining defendants' demurrer on certain grounds.  Plaintiffs have until
August 16, 2001 to file a fourth amended complaint. The Managing General Partner
does  not  anticipate  that  any  costs,  whether  legal  or  settlement  costs,
associated  with  this  case  will  be  material  to the  Partnership's  overall
operations.

ITEM 6.     EXHIBITS AND REPORTS ON FORM 8-K

            a)    Exhibits:

                  None.

            b)    Reports on Form 8-K:

                  None filed during the quarter ended June 30, 2001.



<PAGE>



                                   SIGNATURES



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



                                    DAVIDSON GROWTH PLUS, L.P.


                                    By:   DAVIDSON GROWTH PLUS GP CORPORATION
                                          Managing General Partner


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


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


                                    Date: