Studies that deal with memory and collective memory are arguably on the rise and sociological studies of historic preservation are no exception, for collective memory plays a crucial role therein. Those studies assume that preservationists try to preserve the collectively held memories associated with certain sites and structures in their communities. But the data obtained from author's 37 years of fieldwork on the preservation movement in Otaru (Hokkaido, Japan) suggest otherwise. Preservation activists claimed that Otaru Canal and the surrounding built environment must be saved because the loss of that physical built environment would alter the character of the local community. It was not the memories that they tried to preserve; it was the lived environment that forms the basis of their very existence. The central concern of the preservation movement was thus not the wholesale rejection of change, but rather an argument for giving residents—not city planners or outside experts—control over the extent and pace of change. Paradoxically enough, preservation activists actually argued that the area around the canal should change. The author questions whether there is a space for collective memory in historic preservation studies.