<ARTICLE> 5
       
                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          SEP-30-1996
<PERIOD-START>                             OCT-01-1996
<PERIOD-END>                               SEP-30-1996
<CASH>                                       4,772,549
<SECURITIES>                                         0
<RECEIVABLES>                                  456,962
<ALLOWANCES>                                    17,105
<INVENTORY>                                     73,719
<CURRENT-ASSETS>                             5,860,089
<PP&E>                                      61,191,970
<DEPRECIATION>                               5,705,685
<TOTAL-ASSETS>                              63,170,949
<CURRENT-LIABILITIES>                        7,116,077
<BONDS>                                     44,309,757
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                         7,179
<OTHER-SE>                                  11,737,936
<TOTAL-LIABILITY-AND-EQUITY>                63,170,949
<SALES>                                      4,031,279
<TOTAL-REVENUES>                            28,991,024
<CGS>                                        2,268,404
<TOTAL-COSTS>                               27,368,612
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                           6,431,622<F1>
<INCOME-PRETAX>                            (4,413,794)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                        (4,413,794)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                               (4,413,794)
<EPS-PRIMARY>                                    (.70)
<EPS-DILUTED>                                    (.70)
<FN>
<F1>Note 1 on tag 32 Net of interest capitalized of $1,442,493
</FN>