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This paper discusses commonalities between two planning‐related discourses: sustainable urban development and innovation. It is argued that one common denominator between these discourses is a resource‐based view of urban project management. Implementing sustainability and initiating urban innovation both can be reframed as a multilevel governance process of resource management. The paper discusses sustainable urban development and the innovation concept using Berlin‐Adlershof, one of Europe's largest urban science and technology parks, as an example. A resource‐based view reveals a particular governance‐related resource that seems to be underestimated both by the innovation and the sustainability discourse: identity. Copyright © 2010 John Wiley & Sons, Ltd and ERP Environment.