EXHIBIT 23.1

                    CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS


We have issued our report dated June 20, 2002, accompanying the financial
statements and schedule incorporated by reference in the Annual Report of
Federal Realty Investment Trust Savings and Retirement Plan on Form 11-K for the
year ended December 31, 2001. We hereby consent to the incorporation by
reference of said report in the Registrations Statements of Federal Realty
Investment Trust Savings and Retirement Plan on Form S-8 (File No. 333-63986,
effective June 27, 2001).

Vienna, Virginia                                  /s/ Grant Thornton, LLP
June 20, 2002                                     -----------------------