i think that would be ok too, but the solution i prefer is to narrow residential street lanes (and on other urban streets as well).
all roads, but even residential streets, in car-centric cities like LA seem to be built wide enough to accommodate 747's with ease.
my proposal: rather than 12-15 foot widths, make urban residential street lanes 9 feet wide (cars are typically 6-7 feet wide, delivery trucks, 8 feet wide). replace parking lanes with slightly grade-separated (3-4 inches) bike lanes, leaving existing walkways for pedestrians only.
and make sure these narrow lanes have shoulder lane markings.