I understand the nostalgic concern but what they do with their own property is really up to them.
You can try to to use the force of public opinion and that is legitimate but I think some of the efforts to use city council etc. to block this is just wrong. It would also add to the tearing down of something a lot more important than a theatre or a bookstore...
The CITY wants to tear down the main post office downtown (which would require building another huge post office in the area) to build more theater space downtown (public construction for private tenents).
Now there is no nostalgia in that but there is a lot of good old boy networking.
The train station "had to be" the center switching center for the city's proposed rail line. And when that was rejected it "had to be" the new ballpark.
A lot of "had to bes" there. Of course, they then had to MOVE the Star of Hope charity because they didn't want a long established homeless shelter near somebody's new pricey real estate.
Meanwhile South Main (where the old stadium is) is a declining sh!thole.
I agree that there are other things to take up with city hall than preservation of someone's private property. And even when there is preservation of a property, someone like Pappa's will start the demolition early on a Saturday and claim it was a mistake (recycling the old brick for their "retro restaurants).
Still worth noting the begining of the end for some visible landmarks.