The article focuses on the phenomenon of myth, which cannot be seen and may not even exist based on empirical evidence, although it can function as a long-lasting wave inceptor, as demonstrated in numerous cases in history. The singular presence of myth has no linear time, and the way to approach the concealed mythic meaning that is beyond tales, oral traditions or ritual practices is based on language and narrative. Narrative is how myth manifests itself in the temporal layers of discourse through collective decision-making processes within cultures and in places. The urban cultural heritage seems to be a promising source of understanding of what sort of narrative history has been telling. We emphasize that the closest possible approach to the permanence of myth lies in this subtle between-epoch or between-generational moment wherein the discourse alters. The hermeneutics of repetition within alteration processes is what could be called the narrative of cultural heritage in towns and cities. Development of the physical heritage properties has been touched by a variety of agents, and therefore it must have gathered a nearly unlimited amount of explicit and implicit knowledge. The research further demonstrates how the myth–narrative–discourse interaction affects our understanding of the authenticity of heritage objects, shifting towards a permanent pervading authenticity which could be intensive or extensive in the tangible realm. The case of Šiluva is discussed in order to explain how myth can be used practically in placemaking.