<ARTICLE> 5
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          SEP-30-1996
<PERIOD-END>                               DEC-31-1996
<CASH>                                       4,794,365
<SECURITIES>                                         0
<RECEIVABLES>                                  814,930
<ALLOWANCES>                                  (17,105)
<INVENTORY>                                     89,616
<CURRENT-ASSETS>                             6,400,842
<PP&E>                                      62,376,643
<DEPRECIATION>                             (6,435,069)
<TOTAL-ASSETS>                              64,075,960
<CURRENT-LIABILITIES>                        8,539,380
<BONDS>                                     44,015,990
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                         7,179
<OTHER-SE>                                  11,513,411
<TOTAL-LIABILITY-AND-EQUITY>                64,075,960
<SALES>                                      1,047,357
<TOTAL-REVENUES>                             9,806,206
<CGS>                                          586,520
<TOTAL-COSTS>                                8,299,960
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                           1,771,871<F1>
<INCOME-PRETAX>                              (224,524)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                          (224,524)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                 (224,524)
<EPS-PRIMARY>                                    (.03)
<EPS-DILUTED>                                    (.03)
<FN>
<F1>Net of interest capitalized of $192,286
</FN>