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) December 27, 2005

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


       California                0-13418                94-2939418
(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 1.01 Entry Into a Material Definitive Agreement

Please see the description under Item 2.03, below.

Item 2.03 Creation of a Direct Financial  Obligation or an Obligation Under an
Off-Balance Sheet Arrangement of a Registrant

Century  Properties Growth Fund XXII (the  "Registrant") owns a 100% interest in
Cooper's   Pointe  CPGF  22,  L.P.,   a  Delaware   limited   partnership   (the
"Partnership").  On December 28, 2005, the Partnership  obtained a mortgage loan
in the principal amount of approximately  $7,735,000 on its investment property,
Cooper's  Pointe  Apartments,  located in Charleston,  South  Carolina.  The new
mortgage loan was provided by GE Capital Life Insurance Company of New York (the
"Lender").  The existing mortgage loan, with an outstanding principal balance of
approximately  $3,725,000,  was repaid with proceeds from the new mortgage loan.
The new  mortgage  loan  requires  monthly  payments of  principal  and interest
beginning on February 1, 2006 until the loan matures  December 31, 2014,  with a
fixed interest rate of 5.52% and a balloon payment of  approximately  $6,546,000
due at  maturity.  The  Partnership  may prepay the new  mortgage  loan  without
penalty during the 90 days prior to December 31, 2014 or in connection  with the
application  of  insurance  proceeds  or any  condemnation  award as a result of
Lender's election under the mortgage loan.  However,  if the Partnership prepays
the mortgage  prior to October 2, 2014,  a prepayment  penalty as defined in the
loan agreement  will apply.  As a condition of making the new mortgage loan, the
Lender  required  AIMCO  Properties,  L.P.,  an  affiliate  of the  Registrant's
managing  general  partner,  to guarantee the obligations and liabilities of the
Partnership with respect to the new mortgage loan.

In accordance with the terms of the loan agreement relating to the new mortgage,
payment of the note may be  accelerated  at the option of the Lender if an Event
of Default, as defined in the loan agreement, occurs.

The  foregoing  description  is  qualified  in its  entirety by reference to the
Promissory  Note and Guaranty,  copies of which will be filed as exhibits to the
Registrant's Form 10-KSB for the fiscal year ended December 31, 2005.

In accordance with the Amended and Restated Limited Partnership Agreement of the
Registrant,  the  Registrant's  managing  general partner is evaluating the cash
requirements  of the  Registrant  to  determine  whether  any portion of the net
proceeds will be distributed to the Registrant's partners.







                                    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 GROWTH FUND XXII


                                    By:   Fox Partners IV
                                          General Partner

                                    By:   Fox Capital Management Corporation
                                          Managing General Partner


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

                                    Date: January 3, 2006