After 16 years of trying to make Rockville Town Square happen, Federal Realty is finally handing the reins to another developer. The Square has been sold to Morguard, a Canadian firm that already owned its apartment buildings and just spent $33 million on the rest of the property. Morguard’s Joshua Nolan assures us that his company is in this for the long haul, with plans to redevelop some of the ground-floor spaces and seek out a wider mix of tenants. “We need to have true retail with different services,” Nolan says. “The restaurants are great, but it can’t all be restaurants.”
