<ARTICLE> 5
<CIK> 0000890575
<NAME> HILCOAST DEVELOPMENT CORP.
<MULTIPLIER> 1000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          JUL-31-1997
<PERIOD-END>                               OCT-31-1996
<CASH>                                             797<F1>
<SECURITIES>                                         0
<RECEIVABLES>                                        0
<ALLOWANCES>                                         0
<INVENTORY>                                     29,428
<CURRENT-ASSETS>                                     0
<PP&E>                                          25,385
<DEPRECIATION>                                 (6,005)
<TOTAL-ASSETS>                                  52,452
<CURRENT-LIABILITIES>                                0
<BONDS>                                              0
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                            24
<OTHER-SE>                                       2,481
<TOTAL-LIABILITY-AND-EQUITY>                    52,452
<SALES>                                          8,529
<TOTAL-REVENUES>                                11,411
<CGS>                                            6,934
<TOTAL-COSTS>                                    6,934
<OTHER-EXPENSES>                                 1,865
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                 584
<INCOME-PRETAX>                                    121
<INCOME-TAX>                                        45
<INCOME-CONTINUING>                                  0
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                        76
<EPS-PRIMARY>                                     $.03
<EPS-DILUTED>                                     $.03
<FN>
<F1>Cash balance includes $740 of restricted cash.
</FN>