<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE BALANCE
SHEETS AND STATEMENTS OF INCOME AND EXPENSES AND IS QUALIFIED IN ITS ENTIRETY BY
REFERENCE TO SUCH FINANCIAL STATEMENTS
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               DEC-31-1996
<CASH>                                          56,870
<SECURITIES>                                    54,769<F1>
<RECEIVABLES>                                        0<F2>
<ALLOWANCES>                                         0
<INVENTORY>                                      1,751
<CURRENT-ASSETS>                               114,144
<PP&E>                                         176,232
<DEPRECIATION>                                   6,199
<TOTAL-ASSETS>                                 329,509
<CURRENT-LIABILITIES>                           19,290
<BONDS>                                        173,270
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             0
<OTHER-SE>                                     137,942
<TOTAL-LIABILITY-AND-EQUITY>                   329,509
<SALES>                                            268
<TOTAL-REVENUES>                                   421
<CGS>                                              268
<TOTAL-COSTS>                                   18,853
<OTHER-EXPENSES>                                 1,048
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                                   0<F3>
<INCOME-PRETAX>                               (19,480)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                           (19,480)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                  (19,480)
<EPS-PRIMARY>                                        0
<EPS-DILUTED>                                        0
<FN>
<F1>Represents only the current marketable securities.
<F2>The Company has no trade accounts receivable.
<F3>$10,030 interest expense have been capitalized.
</FN>