<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 March 31, 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 18

<PAGE>

            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP

                           FORM 10-QSB MARCH 31, 2003

                         PART 1 - FINANCIAL INFORMATION


ITEM 1. FINANCIAL STATEMENTS.

BALANCE SHEETS

(IN THOUSANDS, EXCEPT UNIT DATA)

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

Cash and cash equivalents                                  $   568              $   598
                                                           -------              -------

       Total Assets                                        $   568              $   598
                                                           =======              =======

Liabilities and Partners' Capital

Liabilities:

Accrued expenses                                           $     9              $    11
                                                           -------              -------

       Total Liabilities                                         9                   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                                       1,649                1,676
General Partners' deficit                                   (1,090)              (1,089)
                                                           -------              -------

       Total Partners' Capital                                 559                  587
                                                           -------              -------

       Total Liabilities and Partners' Capital             $   568              $   598
                                                           =======              =======
</TABLE>


                       See notes to financial statements.


                                     2 of 18
<PAGE>

            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
                           FORM 10-QSB MARCH 31, 2003

STATEMENTS OF OPERATIONS (UNAUDITED)

(IN THOUSANDS, EXCEPT UNIT DATA)

<TABLE>
<CAPTION>
                                                               FOR THE THREE MONTHS ENDED
                                                                MARCH 31,      MARCH 31,
                                                                  2003          2002
                                                                --------       --------
<S>                                                            <C>            <C>
Income:

Income from Local Limited Partnership
  cash distributions                                            $      4       $     37
Equity in loss of Local Limited Partnership                         --              (21)
Interest                                                               1              3
                                                                --------       --------

       Total income                                                    5             19
                                                                --------       --------

Expenses:

Interest                                                            --                4
Management fees                                                     --                4
General and administrative                                            33             26
                                                                --------       --------

       Total expenses                                                 33             34
                                                                --------       --------

Net loss                                                        $    (28)      $    (15)
                                                                ========       ========

Net loss allocated to General Partners                          $     (1)      $     (1)
                                                                ========       ========

Net loss allocated to Limited Partners                          $    (27)      $    (14)
                                                                ========       ========

Net loss per Unit of Limited Partnership Interest               $  (1.05)      $  (0.55)
                                                                ========       ========
</TABLE>

                       See notes to financial statements.


                                     3 of 18
<PAGE>

            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
                           FORM 10-QSB MARCH 31, 2003


STATEMENT 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                        --                (27)               (1)            (28)
                                   ------          -------           -------           -----

Balance - March 31, 2003           25,595          $ 1,649           $(1,090)          $ 559
                                   ======          =======           =======           =====
</TABLE>

                       See notes to financial statements.


                                    4 of 18
<PAGE>

            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
                           FORM 10-QSB MARCH 31, 2003

STATEMENTS OF CASH FLOWS (UNAUDITED)

(IN THOUSANDS)

<TABLE>
<CAPTION>
                                                                        FOR THE THREE MONTHS ENDED
                                                                         MARCH 31,       MARCH 31,
                                                                           2003             2002
                                                                         -------           -------
<S>                                                                   <C>              <C>
Cash Flows From Operating Activities:

Net loss                                                                 $   (28)          $   (15)
Adjustments to reconcile net loss to net cash used in
  operating activities:
       Equity in loss of Local Limited Partnership                          --                  21
       Income from Local Limited Partnership cash distributions               (4)              (37)
Changes in assets and liabilities:
       Increase in accrued interest receivable                              --                  (2)
       Decrease in accrued expenses                                           (2)               (2)
       Increase in accrued interest payable                                 --                   4
                                                                         -------           -------

       Net cash used in operating activities                                 (34)              (31)
                                                                         -------           -------

Cash flows from Investing Activities:
       Distributions received from Local Limited Partnerships                  4                37
                                                                         -------           -------
       Cash provided by investing activities                                   4                37
                                                                         -------           -------

Net (decrease) increase in cash and cash equivalents                         (30)                6

Cash and cash equivalents, beginning of period                               598               341
                                                                         -------           -------

Cash and cash equivalents, end of period                                 $   568           $   347
                                                                         =======           =======
</TABLE>

                       See notes to financial statements.


                                    5 of 18
<PAGE>

            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
                           FORM 10-QSB MARCH 31, 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 three months ended March 31, 2003 and
         2002 are not necessarily indicative of the results to be expected for
         the full year.


                                     6 of 18

<PAGE>

            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
                           FORM 10-QSB MARCH 31, 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 March 31, 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
           a $30,000 decrease for the three months ended March 31, 2003, as
           compared to December 31, 2002. The Partnership's $34,000 of net cash
           used in operating activities was partially offset by $4,000 of
           distributions received from a Local Limited Partnership (investing
           activities). At March 31, 2003, the Partnership had $568,000 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 did not make cash distributions to its partners during
           the three months ended March 31, 2003.

           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 18
<PAGE>
            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
                           FORM 10-QSB MARCH 31, 2003

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

           Results of Operations

           The Partnership's net loss increased by $13,000 to a net loss of
           $28,000 for the three months ended March 31, 2003, as compared to a
           net loss of $15,000 for the comparable period in 2002, due to a
           decrease in income of $14,000 which was partially offset by a
           decrease in expenses of $1,000.

           Income decreased due to a $33,000 decrease in cash distributions
           received from Local Limited Partnerships and a decrease in interest
           income of $2,000. These decreases were partially offset by a loss
           from a Local Limited Partnership in the amount of $21,000 which was
           recorded for the three months ended March 31, 2002. The Partnership
           did not incur a comparable loss from a Local Limited Partnership for
           the three months ended March 31, 2003. Expenses decreased due to a
           decrease in management fees of $4,000 and a decrease in interest
           expense of $4,000 which were substantially offset by an increase in
           general and administrative expenses of $7,000.

           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 18
<PAGE>
            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
                           FORM 10-QSB MARCH 31, 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 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.

           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.


                                    9 of 18
<PAGE>

            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
                           FORM 10-QSB MARCH 31, 2003

PART II - OTHER INFORMATION

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

           (a)    Exhibits:

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

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

           (b)    Reports on Form 8-K:

                  No reports on Form 8-K were filed during the period ended
                  March 31, 2003.


                                    10 of 18
<PAGE>

            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
                           FORM 10-QSB MARCH 31, 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: May 14, 2003


                                    11 of 18
<PAGE>
            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
                           FORM 10-QSB MARCH 31, 2003

                                 CERTIFICATIONS

         I, Michael L. Ashner, certify that:

1.       I have reviewed this quarterly report on Form 10-QSB of Winthrop
         Residential Associates I, A Limited Partnership;

2.       Based on my knowledge, this quarterly report does not contain any
         untrue statement of a material fact or omit to state a material fact
         necessary to make the statements made, in light of the circumstances
         under which such statements were made, not misleading with respect to
         the period covered by this quarterly report;

3.       Based on my knowledge, the financial statements, and other financial
         information included in this quarterly report, fairly present in all
         material respects the financial condition, results of operations and
         cash flows of the registrant as of, and for, the periods presented in
         this quarterly report;

4.       The registrant's other certifying officers and I are responsible for
         establishing and maintaining disclosure controls and procedures (as
         defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and
         have:

         a)    designed such disclosure controls and procedures to ensure that
               material information relating to the registrant is made known to
               us, particularly during the period in which this quarterly report
               is being prepared;

         b)    evaluated the effectiveness of the registrant's disclosure
               controls and procedures as of a date within 90 days prior to the
               filing date of this quarterly report (the "Evaluation Date"); and

         c)    presented in this quarterly report our conclusions about the
               effectiveness of the disclosure controls and procedures on our
               evaluation as of the Evaluation Date;

5.       The registrant's other certifying officers and I have disclosed, based
         on our most recent evaluation, to the registrant's auditors and the
         audit committee of registrant's board of directors (or persons
         performing the equivalent functions):

         a)    all significant deficiencies in the design or operation of
               internal controls which could adversely affect the registrant's
               ability to record, process, summarize and report financial data
               and have identified for the registrant's auditors any material
               weaknesses in internal controls; and

         b)    any fraud, whether or not material, that involves management or
               other employees who have a significant role in the registrant's
               internal controls; and


                                    12 of 18
<PAGE>

            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
                           FORM 10-QSB MARCH 31, 2003

6.       The registrant's other certifying officers and I have indicated in this
         quarterly report whether there were significant changes in internal
         controls or in other factors that could significantly affect internal
         controls subsequent to the date of our most recent evaluation,
         including any corrective actions with regard to significant
         deficiencies and material weaknesses.


Date:   May 14, 2003                   /s/ Michael L. Ashner
                                       -------------------------------
                                       Michael L. Ashner
                                       Chief Executive Officer


                                    13 of 18
<PAGE>
            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
                           FORM 10-QSB MARCH 31, 2003

                                 CERTIFICATIONS

         I, Thomas C. Staples, certify that:

1.       I have reviewed this quarterly report on Form 10-QSB of Winthrop
         Residential Associates I, A Limited Partnership;

2.       Based on my knowledge, this quarterly report does not contain any
         untrue statement of a material fact or omit to state a material fact
         necessary to make the statements made, in light of the circumstances
         under which such statements were made, not misleading with respect to
         the period covered by this quarterly report;

3.       Based on my knowledge, the financial statements, and other financial
         information included in this quarterly report, fairly present in all
         material respects the financial condition, results of operations and
         cash flows of the registrant as of, and for, the periods presented in
         this quarterly report;

4.       The registrant's other certifying officers and I are responsible for
         establishing and maintaining disclosure controls and procedures (as
         defined in Exchange Act Rules 13a-14 and 15d-14) for the registrant and
         have:

         a)    designed such disclosure controls and procedures to ensure that
               material information relating to the registrant is made known to
               us, particularly during the period in which this quarterly report
               is being prepared;

         b)    evaluated the effectiveness of the registrant's disclosure
               controls and procedures as of a date within 90 days prior to the
               filing date of this quarterly report (the "Evaluation Date"); and

         c)    presented in this quarterly report our conclusions about the
               effectiveness of the disclosure controls and procedures on our
               evaluation as of the Evaluation Date;

5.       The registrant's other certifying officers and I have disclosed, based
         on our most recent evaluation, to the registrant's auditors and the
         audit committee of registrant's board of directors (or persons
         performing the equivalent functions):

         a)    all significant deficiencies in the design or operation of
               internal controls which could adversely affect the registrant's
               ability to record, process, summarize and report financial data
               and have identified for the registrant's auditors any material
               weaknesses in internal controls; and

         b)    any fraud, whether or not material, that involves management or
               other employees who have a significant role in the registrant's
               internal controls; and


                                    14 of 18
<PAGE>
            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
                           FORM 10-QSB MARCH 31, 2003

6.       The registrant's other certifying officers and I have indicated in this
         quarterly report whether there were significant changes in internal
         controls or in other factors that could significantly affect internal
         controls subsequent to the date of our most recent evaluation,
         including any corrective actions with regard to significant
         deficiencies and material weaknesses.


Date:   May 14, 2003                   /s/ Thomas C. Staples
                                       ---------------------------------
                                       Thomas C. Staples
                                       Chief Financial Officer


                                    15 of 18
<PAGE>
            WINTHROP RESIDENTIAL ASSOCIATES I, A LIMITED PARTNERSHIP
                           FORM 10-QSB MARCH 31, 2003

Exhibit Index


         Exhibit                                                        Page No.

         99.1     Supplementary Information Required Pursuant to
                  Section 9.4 of the Partnership Agreement.               17

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


                                    16 of 18