The paper is focusing on the relationship between space and identity. According to the term genius loci, which may be understood as location’s distinctive atmosphere or a “spirit of place”, it is possible to explore some visible and invisible features of the place which play substantial role in social life of the local community. The case study of Saint Peterburg illustrates how the context of place, where people live, can have a significant influence on how they define themselves. The article raises the subject of cultural interpretation of space and compares the past and the present identity of St. Peterburg inhabitants. It focuses on myths, images and crucial events from the history, which constitute memory, value-system and social practices of modern citizens.