<ARTICLE> 5
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          SEP-30-1996
<PERIOD-END>                               JUN-30-1996
<CASH>                                       1,670,618
<SECURITIES>                                         0
<RECEIVABLES>                                  215,927
<ALLOWANCES>                                    15,150
<INVENTORY>                                    122,583
<CURRENT-ASSETS>                             2,614,261
<PP&E>                                      59,657,346
<DEPRECIATION>                               4,778,669
<TOTAL-ASSETS>                              59,848,580
<CURRENT-LIABILITIES>                       10,899,825
<BONDS>                                     39,925,482
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                         6,608
<OTHER-SE>                                   9,016,665
<TOTAL-LIABILITY-AND-EQUITY>                59,848,580
<SALES>                                      2,065,295
<TOTAL-REVENUES>                            18,232,514
<CGS>                                        1,107,205
<TOTAL-COSTS>                               17,468,848
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                           4,750,415 <F1>
<INCOME-PRETAX>                            (3,600,411)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                        (3,600,411)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                               (3,600,411)
<EPS-PRIMARY>                                   (.579)
<EPS-DILUTED>                                   (.579)
<FN>
<F1>Net of interest capitalized of $1,256,064.
</FN>