UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549




                                    FORM 8-K


                                 CURRENT REPORT


                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

        Date of Report (Date of earliest event reported) May 25, 2005

                         CENTURY PROPERTIES FUND XVI
            (Exact name of Registrant as specified in its charter)

            California                0-10435                 94-2704651
      (State or other jurisdiction  (Commission            (I.R.S. Employer
           of incorporation)        File Number)        Identification Number)

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


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

Check  the  appropriate  box  below  if the  Form  8-K  filing  is  intended  to
simultaneously satisfy the filing obligations of the registrant under any of the
following provisions:

[ ]   Written  communications  pursuant to Rule 425 under the  Securities  Act
      (17 CFR 230.425)

[ ]   Soliciting  material  pursuant to Rule 14a-12 under the Exchange Act (17
      CFR 240.14a-12)

[ ]   Pre-commencement  communications  pursuant  to Rule  14d-2(b)  under the
      Exchange Act (17 CFR 240.14d-2(b))

[ ]   Pre-commencement  communications  pursuant  to Rule  13e-4(c)  under the
      Exchange Act (17 CFR 240.13e-4(c))









Item 5.02   Departures  of  Directors  or  Principal  Officers;   Election  of
            Directors; Appointment of Principal Officers.

(b)-(c) On May 27, 2005,  Apartment  Investment and Management Company ("Aimco")
announced  that  Paul J.  McAuliffe,  49,  has  elected  to step  down as  chief
financial  officer in first quarter 2006 to assume a senior  advisory role as an
executive vice president supporting Aimco in various capital markets activities.
At the same time, Mr. McAuliffe will step down as the chief financial officer of
the Partnership's managing general partner (the "Managing General Partner"). Mr.
McAuliffe  plans to return  with his  family to his  native  New  Jersey.  Since
October 1999, Mr. McAuliffe has served as the chief financial  officer of Aimco.
Aimco will begin an orderly  transition with Thomas M. Herzog, 42, currently the
chief accounting  officer of Aimco and the Managing  General Partner  succeeding
Mr.  McAuliffe as chief  financial  officer.  Since January 2004, Mr. Herzog has
served as senior vice  president and chief  accounting  officer of Aimco and the
Managing  General  Partner.  Effective  July 1, 2005,  Mr.  Herzog  will  become
executive vice president and chief accounting  officer of Aimco and the Managing
General  Partner  and will  assume the chief  financial  officer  title when Mr.
McAuliffe  assumes  his new role in early 2006.  Prior to joining  Aimco and the
Managing  General  Partner,  Mr. Herzog was at GE Real Estate,  serving as chief
accounting  officer and global controller from April 2002 to January 2004 and as
chief technical  advisor from March 2000 to April 2002. Prior to joining GE Real
Estate, Mr. Herzog was at Deloitte & Touche LLP from 1990 to 2000. The successor
to Mr.  Herzog  in the  role of  chief  accounting  officer  has  not  yet  been
determined.







                                    SIGNATURE


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 hereunto duly authorized.



                           CENTURY PROPERTIES FUND XVI

                                By: Fox Capital Management Corporation
                                    Managing General Partner

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

                               Date: June 1, 2005