It's been tried. Huge failures. See Robert Taylor Homes (Chicago)[1], Pruett-Igoe (St. Louis) [2].
https://www.google.com/maps/@37.7759476,-122.4242439,3a,75y,...
Most of the land in San Francisco is limited by law to short, detached, single-family dwellings. Erasing that regulation will make housing dramatically cheaper.