St Louis is a city tied up in historic preservation. Most of the city is in some historic neighbor or another. Is this a good thing?
Well, it depends. If you have a truly historic house the designation brings resources to the table to improve the property. If you have a non historic house in a historic district you could be screwed. That is because rehabbing that property will require historic preservation processes that will add significantly to the cost of rehabbing the house, often more than the value of the property itself. Properties get abandoned and neighborhoods deteriorate.
Alderman and other civic leaders have pushed to designate deteriorated areas as historic in an erroneous effort to create revitalization. If anything these efforts hurt.
What can be done? First develop a reasonable definition of historic. Not every old building meets the standard. Second allow more flexibility in design. We would never have had the modernist architectural style if every neighborhood had to conform to existing styles. Finally use a reasonable definition of historic. The federal register talks about unique. That would be a good starting point.