Living labs represent a promising approach to the development of innovative solutions in real-world environments, particularly within the building sector. As it continues to contribute significantly to the growing global energy consumption, the application of living labs in this context is crucial. They indeed help develop dynamic and user-centred ideas, thanks to the collaborative effort of the involved stakeholders. The UniZEB project is the first living lab developed at the University of Padova, using this approach to address the challenge of creating sustainable solutions for buildings. The initiative brought together local companies, students, and researchers to build the first prototype in the industrial area of Padova. The building integrates high-performance HVAC systems, innovative building envelope technologies, and renewable energy sources, thus creating an interactive learning environment in a Zero Energy Building. This work presents in detail the design and construction process of the UniZEB living lab including the dynamic simulation model developed in TRNSYS to validate the building’s potential and performance, showing a considerably low energy requirement for both heating and cooling (14.8 and 5.4 kWh/(m2 y), respectively). Considering the future issues related to climate change and the ongoing need to reduce fossil fuel consumption, this project highlights the benefits and potential of living labs in shaping the future of sustainable construction.