<PAGE>


                                  UNITED STATES
                       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, 2003
                                                 -------------

                                       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 0-10272

            Winthrop Residential Associates I, A Limited Partnership
            --------------------------------------------------------
        (Exact name of small business issuer as specified in its charter)

            Maryland                                     04-2720493
-------------------------------             ------------------------------------
(State or other jurisdiction of             (I.R.S. Employer Identification No.)
 incorporation or organization)


7 Bulfinch Place, Suite 500, Boston, MA                 02114-9507
---------------------------------------           ---------------------
(Address of principal executive office)                 (Zip Code)

Registrant's telephone number, including area code   (617) 570-4600
                                                     --------------

Indicate by check mark whether 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_____




                                    1 of 19
<PAGE>

            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
            --------------------------------------------------------

                            FORM 10-QSB JUNE 30, 2003
                            -------------------------

                         PART 1 - FINANCIAL INFORMATION
                         ------------------------------


ITEM 1. FINANCIAL STATEMENTS.

BALANCE SHEETS
(IN THOUSANDS, EXCEPT UNIT DATA)

<TABLE>
<CAPTION>
                                                                                 JUNE 30, 2003              DECEMBER 31,
                                                                                  (UNAUDITED)                  2002
                                                                              ---------------------    ---------------------
<S>                                                                           <C>                      <C>
Assets
------

Cash and cash equivalents                                                     $                510     $                598
                                                                              ---------------------    ---------------------
       Total Assets                                                           $                510     $                598
                                                                              =====================    =====================
Liabilities and Partners' Capital
---------------------------------

Liabilities:

Accrued expenses                                                              $                  6     $                 11
                                                                              ---------------------    ---------------------
       Total Liabilities                                                                         6                       11
                                                                              ---------------------    ---------------------
Partners' Capital:

Limited Partners -
       Units of Limited Partnership Interest, $1,000
       stated value per unit; 25,676 units authorized;
       25,595 units issued and outstanding                                                   1,596                    1,676
General Partners' deficit                                                                   (1,092)                  (1,089)
                                                                              ---------------------    ---------------------
       Total Partners' Capital                                                                 504                      587
                                                                              ---------------------    ---------------------
       Total Liabilities and Partners' Capital                                $                510     $                598
                                                                              =====================    =====================
</TABLE>


                       See notes to financial statements.



                                    2 of 19
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            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
            --------------------------------------------------------

                            FORM 10-QSB JUNE 30, 2003
                            -------------------------


STATEMENTS OF OPERATIONS (UNAUDITED)

(IN THOUSANDS, EXCEPT UNIT DATA)

<TABLE>
<CAPTION>
                                                            FOR THE THREE MONTHS ENDED             FOR THE SIX MONTHS ENDED
                                                             JUNE 30,          JUNE 30,            JUNE 30,          JUNE 30,
                                                               2003              2002                2003              2002
                                                         ----------------  ----------------    ----------------  ----------------
<S>                                                      <C>               <C>                 <C>               <C>
Income:

     Income from Local Limited Partnership
       cash distributions                                $             -   $             -      $            4   $            37
     Equity in loss of Local Limited Partnership                       -               (16)                  -               (37)
     Interest                                                          1                 4                   2                 7
     Other income                                                      -                12                   -                12
                                                         ----------------  ----------------    ----------------  ----------------
         Total  income                                                 1                 -                   6                19
                                                         ----------------  ----------------    ----------------  ----------------
Expenses:

     Interest                                                          -                 4                   -                 8
     Management fees                                                   -                 -                   -                 4
     General and administrative                                       32                25                  65                51
                                                         ----------------  ----------------    ----------------  ----------------
         Total expenses                                               32                29                  65                63
                                                         ----------------  ----------------    ----------------  ----------------
Net loss                                                  $          (31)   $          (29)     $          (59)  $           (44)
                                                         ================  ================    ================  ================
Net loss allocated to General Partners                    $           (2)   $           (1)     $           (3)  $            (2)
                                                         ================  ================    ================  ================
Net loss allocated to Limited Partners                    $          (29)   $          (28)     $          (56)  $           (42)
                                                         ================  ================    ================  ================
Net loss per Unit of Limited
   Partnership Interest                                   $        (1.14)   $        (1.09)     $        (2.19)  $         (1.64)
                                                         ================  ================    ================  ================
Distributions per Unit of Limited
   Partnership Interest                                   $         0.94    $            -      $         0.94   $             -
                                                         ================  ================    ================  ================
</TABLE>


                       See notes to financial statements.




                                    3 of 19
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            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
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                            FORM 10-QSB JUNE 30, 2003
                            -------------------------


STATEMENTS OF PARTNERS' CAPITAL (UNAUDITED)

(IN THOUSANDS, EXCEPT UNIT DATA)

<TABLE>
<CAPTION>
                                                         UNITS OF
                                                         LIMITED            LIMITED            GENERAL             TOTAL
                                                       PARTNERSHIP         PARTNERS'          PARTNERS'          PARTNERS'
                                                         INTEREST           CAPITAL            DEFICIT           CAPITAL
                                                     -----------------  -----------------  ----------------  ----------------
<S>                                                  <C>                <C>                <C>               <C>
Balance - January 1, 2003                                      25,595   $          1,676   $        (1,089)  $           587

     Net loss                                                       -                (56)               (3)              (59)
     Distributions                                                  -                (24)                -               (24)
                                                     -----------------  -----------------  ----------------  ----------------
Balance - June 30, 2003                                        25,595   $          1,596   $        (1,092)  $           504
                                                     =================  =================  ================  ================
</TABLE>




                       See notes to financial statements.


                                    4 of 19

<PAGE>

            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
            --------------------------------------------------------

                            FORM 10-QSB JUNE 30, 2003
                            -------------------------


STATEMENTS OF CASH FLOWS (UNAUDITED)

(IN THOUSANDS)

<TABLE>
<CAPTION>
                                                                                        FOR THE SIX MONTHS ENDED
                                                                                    JUNE 30,                 JUNE 30,
                                                                                      2003                     2002
                                                                              ---------------------    ---------------------
<S>                                                                           <C>                      <C>
Cash Flows From Operating Activities:

Net loss                                                                      $                (59)    $                (44)
Adjustments to reconcile net loss to net cash
  used in operating activities:
       Equity in loss of Local Limited Partnership                                               -                       37
       Income from Local Limited Partnership cash distributions                                 (4)                     (37)
Changes in assets and liabilities:
       Increase in accrued interest receivable                                                   -                       (4)
       Decrease in accrued expenses                                                             (5)                      (4)
       Increase in accrued interest payable                                                      -                        8
                                                                              ---------------------    ---------------------
       Net cash used in operating activities                                                   (68)                     (44)
                                                                              ---------------------    ---------------------
Cash Flows From Investing Activities:

Distributions received from Local Limited Partnership                                            4                       37
                                                                              ---------------------    ---------------------
       Cash provided by investing activities                                                     4                       37
                                                                              ---------------------    ---------------------
Cash Flows From Financing Activities:

Distributions to partners                                                                      (24)                       -
                                                                              ---------------------    ---------------------
         Cash used in financing activities                                                     (24)                       -
                                                                              ---------------------    ---------------------
Net decrease in cash and cash equivalents                                                      (88)                      (7)

Cash and cash equivalents, beginning of period                                                 598                      341
                                                                              ---------------------    ---------------------
Cash and cash equivalents, end of period                                      $                510     $                334
                                                                              =====================    =====================
</TABLE>




                       See notes to financial statements.



                                    5 of 19
<PAGE>


            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
            --------------------------------------------------------
                            FORM 10-QSB JUNE 30, 2003
                            -------------------------

                          NOTES TO FINANCIAL STATEMENTS
                          -----------------------------

1.     GENERAL

       The accompanying financial statements, footnotes and discussions should
       be read in conjunction with the financial statements, related footnotes
       and discussions contained in the Partnership's Annual Report on Form
       10-KSB for the year ended December 31, 2002.

       The financial information contained herein is unaudited. In the opinion
       of management, all adjustments necessary for a fair presentation of such
       financial information have been included. All adjustments are of a normal
       recurring nature. The balance sheet at December 31, 2002 was derived from
       audited financial statements at such date.

       The results of operations for the six months ended June 30, 2003 and 2002
       are not necessarily indicative of the results to be expected for the full
       year.



                                    6 of 19
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            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
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                            FORM 10-QSB JUNE 30, 2003
                            -------------------------



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 disclosure 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 liquidity, capital resources 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
         operations. Accordingly, actual results could differ materially from
         those projected in the forward-looking statements as a result of a
         number of factors, including those identified herein.

         This Item should be read in conjunction with the financial statements
         and other items contained elsewhere in the report.

         Liquidity and Capital Resources
         -------------------------------

         As of June 30, 2003, the Partnership retained an equity interest in
         three Local Limited Partnerships, each of which owns one apartment
         complex. One property is located in Michigan and two properties are
         located in North Carolina.

         The level of liquidity based on cash and cash equivalents experienced
         an $88,000 decrease for the six months ended June 30, 2003, as compared
         to December 31, 2002. The Partnership's $68,000 of net cash used in
         operating activities and $24,000 of distributions to partners
         (financing activity) was partially offset by $4,000 of distributions
         received from a Local Limited Partnership (investing activity). At June
         30, 2003, the Partnership had $510,000 in cash and cash equivalents
         which have been invested primarily in repurchase agreements and a money
         market account.

         The Partnership's primary source of income is distributions from the
         Local Limited Partnerships. The Partnership requires cash to pay
         management fees, general and administrative expenses and to make
         capital contributions to any of the Local Limited Partnerships which
         the managing general partner deems to be in the Partnership's best
         interest to preserve its ownership interest. To date, all cash
         requirements have been satisfied by interest income, cash distributed
         by the Local Limited Partnerships to the Partnership or by loans.

         The Partnership does not intend to make advances to fund future
         operating deficits incurred by any Local Limited Partnership, but
         retains its prerogative to exercise business judgment to reverse this
         position if circumstances change. Moreover, the Partnership is not
         obligated to provide any additional funds to the Local Limited
         Partnerships to fund operating deficits. If a Local Limited Partnership
         sustains continuing operating deficits and has no other sources of
         funding, it is likely that it will eventually default on its mortgage
         obligations and risk a foreclosure on its property by the lender. If a
         foreclosure were to occur, the Local Limited Partnership would lose its
         investment in the property and would incur a tax liability due to the
         recapture of tax benefits taken in prior years. The Partnership, as an
         owner of the Local Limited Partnership, would share these consequences
         in proportion to its ownership interest in the Local Limited
         Partnership.




                                    7 of 19
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            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
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                            FORM 10-QSB JUNE 30, 2003
                            -------------------------


ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION (CONTINUED)
         ---------------------------------------------------------------------

         Results of Operations
         ---------------------

         The Partnership's net loss increased by $15,000 to a net loss of
         $59,000 for the six months ended June 30, 2003, as compared to a net
         loss of $44,000 for the comparable period in 2002, due to a decrease in
         income of $13,000 and an increase in expenses of $2,000.

         Income decreased due to a $33,000 decrease in cash distributions
         received from Local Limited Partnerships, a decrease in interest income
         of $5,000 and a decrease in other income of $12,000. These decreases
         were partially offset by a loss from a Local Limited Partnership in the
         amount of $37,000 which was recorded for the six months ended June 30,
         2002. The Partnership did not incur a comparable loss from a Local
         Limited Partnership for the six months ended June 30, 2003. Expenses
         increased due to an increase in general and administrative expenses of
         $14,000 which were substantially offset by a decrease in interest
         expenses of $8,000 and a decrease in management fees of $4,000.

         Recently Issued Accounting Standards
         ------------------------------------

         In April 2002, the Financial Accounting Standards Board ("FASB") issued
         Statement of Financial Accounting Standards ("SFAS") No. 145,
         "Rescission of FASB Statements No. 4, 44, and 64, Amendment of FASB
         Statement No. 13 and Technical Corrections," which updates, clarifies
         and simplifies existing accounting pronouncements. In part, this
         statement rescinds SFAS No. 4, "Reporting Gains and Losses from
         Extinguishment of Debt." FASB No. 145 is effective for fiscal years
         beginning after May 15, 2002. Upon adoption, enterprises must
         reclassify prior period items that do not meet the extraordinary item
         classification criteria in Accounting Principles Board Opinion No. 30.
         This statement had no effect on the Partnership's financial statements.

         In July 2002, the FASB issued SFAS No. 146, "Accounting for Costs
         Associated with Exit or Disposal Activities." SFAS No. 146 requires
         companies to recognize costs associated with exit or disposal
         activities when they are incurred rather than at the date of a
         commitment to an exit or disposal plan. Examples of costs covered by
         the standard include lease termination costs and certain employee
         severance costs that are associated with a restructuring, discontinued
         operation, plant closing or other exit or disposal activity. SFAS No.
         146 is effective prospectively for exit and disposal activities
         initiated after December 31, 2002. This statement had no effect on the
         Partnership's financial statements.

         In November 2002, the FASB issued Interpretation No. 45, "Guarantors'
         Accounting and Disclosure Requirements for Guarantees, Including
         Indirect Guarantees of Indebtedness of Others." The interpretation
         elaborates on the disclosures to be made by a guarantor in its
         financial statements about its obligations under certain guarantees
         that it has issued. It also clarifies that a guarantor is required to
         recognize, at the inception of a guarantee, a liability for the fair
         value of the obligation undertaken in issuing the guarantee. This
         interpretation does not prescribe a specific approach for subsequently
         measuring the guarantor's recognized liability over the term of the
         related guarantee. The disclosure provisions of this interpretation
         were effective for the Partnership's December 31, 2002 financial
         statements. The initial recognition and initial measurement provisions
         of this interpretation are applicable on a prospective basis to
         guarantees issued or modified after December 31, 2002. This
         interpretation had no effect on the Partnership's financial statements.



                                    8 of 19
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            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
            --------------------------------------------------------
                            FORM 10-QSB JUNE 30, 2003
                            -------------------------


ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION (CONTINUED)
         ---------------------------------------------------------------------

         Recently Issued Accounting Standards (Continued)
         ------------------------------------------------

         In January 2003, the FASB issued Interpretation No. 46, "Consolidation
         of Variable Interest Entities." This interpretation clarifies the
         application of existing accounting pronouncements to certain entities
         in which equity investors do not have the characteristics of a
         controlling financial interest or do not have sufficient equity at risk
         for the entity to finance its activities without additional
         subordinated financial support from other parties. The provisions of
         the interpretation will be immediately effective for all variable
         interests in variable interest entities created after January 31, 2003,
         and the Partnership will need to apply its provisions to any existing
         variable interests in variable interest entities by no later than
         December 31, 2004. The Partnership does not expect that this
         interpretation will have an impact on the Partnership's financial
         statements.

         In April 2003, the FASB issued SFAS No. 149, "Amendment of SFAS No. 133
         on Derivative Instruments and Hedging Activities." This statement
         amends and clarifies financial accounting and reporting for derivative
         instruments, including certain derivative instruments embedded in other
         contracts (collectively referred to as derivatives) and for hedging
         activities under SFAS No. 133, "Accounting for Derivative Instruments
         and Hedging Activities." The changes in this statement improve
         financial reporting by requiring that contracts with comparable
         characteristics be accounted for similarly. In particular, this
         statement (1) clarifies under what circumstances a contract with an
         initial net investment meets the characteristic of a derivative
         discussed in SFAS No. 133, (2) clarifies when a derivative contains a
         financing component, (3) amends the definition of an underlying that is
         related to an asset, liability or equity security to conform it to
         language used in FASB Interpretation No. 45, and (4) amends certain
         other existing pronouncements. Those changes will result in more
         consistent reporting of contracts as either derivatives or hybrid
         instruments. This statement is effective for contracts entered into or
         modified after June 30, 2003, and for hedging relationships designated
         after June 30, 2003. The guidance should be applied prospectively. The
         provisions of this statement that relate to SFAS No. 133 implementation
         issues that have been effective for fiscal quarters that began prior to
         June 15, 2003, should continue to be applied in accordance with their
         respective effective dates. In addition, certain provisions relating to
         forward purchases or sales of when-issued securities or other
         securities that do not yet exist, should be applied to existing
         contracts as well as new contracts entered into after June 30, 2003.
         The Partnership does not expect that this statement will have an impact
         on the Partnership's financial statements.

         In May 2003, the FASB issued SFAS No. 150, "Accounting for Certain
         Financial Instruments with Characteristics of both Liabilities and
         Equity." The statement improves the accounting for certain financial
         instruments that under previous guidance, issuers could account for as
         equity. The new statement requires that those instruments be classified
         as liabilities in statements of financial position. SFAS No. 150
         affects the issuer's accounting for three types of freestanding
         financial instruments. One type is mandatorily redeemable shares, which
         the issuing company is obligated to buy back in exchange for cash or
         other assets. A second type, which includes put options and forward
         purchase contracts, involves instruments that do or may require the
         issuer to buy back some of its shares in exchange for cash or other
         assets. The third type of instruments that are liabilities under this
         statement is obligations that can be settled with shares, the monetary
         value of which is fixed, tied solely or predominantly to a variable
         such as a market index, or varies inversely with the value of the
         issuers' shares. SFAS No. 150 does not apply to features embedded in a
         financial instrument that is not a derivative in its entirety. In
         addition to its requirements for the classification and measurement of
         financial instruments in its scope,


                                    9 of 19
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            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
            --------------------------------------------------------
                            FORM 10-QSB JUNE 30, 2003
                            -------------------------


ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION (CONTINUED)
         ---------------------------------------------------------------------

         Recently Issued Accounting Standards (Continued)
         ------------------------------------------------

         SFAS No. 150 also requires disclosures about alternative ways of
         settling the instruments and the capital structure of entities, all of
         whose shares are mandatorily redeemable. Most of the guidance in SFAS
         No. 150 is effective for all financial instruments entered into or
         modified after May 31, 2003, and otherwise is effective at the
         beginning of the first interim period beginning after June 15, 2003.
         The Partnership does not expect that this statement will have an impact
         on the Partnership's financial statements.

         Quantitative and Qualitative Disclosures of Market Risk
         -------------------------------------------------------

         The Partnership does not have any financial instruments that would
         expose it to market risk associated with the risk of loss arising from
         adverse changes in market rates and prices.

ITEM 3.  CONTROLS AND PROCEDURES
         -----------------------

         The Partnership's principal executive officer and principal financial
         officer have, within 90 days of the filing date of this quarterly
         report, evaluated the effectiveness of the Partnership's disclosure
         controls and procedures (as defined in Exchange Act Rules 13a - 14(c))
         and have determined that such disclosure controls and procedures are
         adequate. There have been no significant changes in the Partnership's
         internal controls or in other factors that could significantly affect
         such internal controls since the date of evaluation. Accordingly, no
         corrective actions have been taken with regard to significant
         deficiencies or material weaknesses.




                                    10 of 19
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            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
            --------------------------------------------------------
                            FORM 10-QSB JUNE 30, 2003
                            -------------------------


PART II - OTHER INFORMATION
---------------------------

ITEM 6.  EXHIBITS AND REPORTS ON FORM 8-K.
         ---------------------------------

         (a)  Exhibits:

              31     Certifications Pursuant to Section 302 of the Sarbanes-
                     Oxley Act of 2002.

              32     Certification Pursuant to Section 906 of the Sarbanes-Oxley
                     Act of 2002.

              99.1   Supplementary Information Required Pursuant to Section 9.4
                     of the Partnership  Agreement.


         (b)  Reports on Form 8-K:

         No reports on Form 8-K were filed during the three months ended June
30, 2003.












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            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
            --------------------------------------------------------
                            FORM 10-QSB JUNE 30, 2003
                            -------------------------


                                   SIGNATURES
                                   ----------

Pursuant to the requirements 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.





                                              WINTHROP RESIDENTIAL ASSOCIATES I,
                                              ----------------------------------
                                              A LIMITED PARTNERSHIP
                                              ---------------------

                                              BY: ONE WINTHROP PROPERTIES, INC.
                                                  Managing General Partner




                                                  BY: /s/ Michael L. Ashner
                                                      --------------------------
                                                      Michael L. Ashner
                                                      Chief Executive Officer



                                                  BY: /s/ Thomas C. Staples
                                                      --------------------------
                                                      Thomas C. Staples
                                                      Chief Financial Officer

                                                      Dated: August 14, 2003




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            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
            --------------------------------------------------------
                            FORM 10-QSB JUNE 30, 2003
                            -------------------------


Exhibit Index

<TABLE>
<CAPTION>
         Exhibit                                                                                 Page No.
                                                                                                 --------
         <S>      <C>                                                                            <C>
         31       Certifications Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.      14 - 17

         32       Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.         18

         99.1     Supplementary Information Required Pursuant to Section 9.4
                  of the Partnership Agreement.                                                    19
</TABLE>




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