Over 200 million Europeans live in suburbs with low socio-economic value. These suburbs are in dire need of modernization and new opportunities to increase social mobility. The SuburbanLab project aims to do exactly that: SuburbanLab will work with residents and other stakeholders to turn these deprived suburbs into attractive, economically prosperous areas. It shall do so by developing and implementing Urban Living Lab methods. This means that developments and actions will be co-created with those stakeholders who would directly benefit from modernization. This project will look at a number of issues ranging from how best to increase resident participation in co-creating innovations to what effect involving residents and stakeholders has on environmental sustainability. The project is being carried out in six urban living labs, three in Alby, Sweden, and three in Peltosaari, Finland.