<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED BALANCE SHEETS AND CONSOLIDATED STATEMENTS OF OPERATIONS FOUND ON
PAGES 1 AND 2 OF THE COMPANY'S FORM 10-Q FOR THE YEAR-TO-DATE, AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             JAN-01-1996
<PERIOD-END>                               MAR-31-1996
<CASH>                                          22,895
<SECURITIES>                                     2,638
<RECEIVABLES>                                    1,013
<ALLOWANCES>                                      (14)
<INVENTORY>                                        153
<CURRENT-ASSETS>                                26,560
<PP&E>                                          73,877
<DEPRECIATION>                                 (1,887)
<TOTAL-ASSETS>                                 131,302
<CURRENT-LIABILITIES>                            9,493
<BONDS>                                         76,229
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                             1
<OTHER-SE>                                      33,185
<TOTAL-LIABILITY-AND-EQUITY>                   131,302
<SALES>                                              0
<TOTAL-REVENUES>                                12,517
<CGS>                                                0
<TOTAL-COSTS>                                   12,685
<OTHER-EXPENSES>                                    13
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                               1,105
<INCOME-PRETAX>                                      0
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                              (168)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                   (1,286)
<EPS-PRIMARY>                                   (0.12)
<EPS-DILUTED>                                        0