This means no online discoverability : you have to talk to your neighbours to get a link, but thats a good thing.
It also means the geographic boundary is flexible. In the city it might be a floor of an apartment block. In the suburbs a street, or maybe 2 adjoining streets, and in rural areas a region several km around a village.
Then it can get other non-street but local usages: parents of a school class, local yoga members etc.
Also less coding: just store a string!
An example of what the page will look like with posts might make it more enticing too.
Good luck. Keep selling it!
I like the idea, the big barrier for me as a user is being embarrassed to contact all the neighbours that I don’t know well. Or fear that no one would join. Maybe some advise about how to tackle that would be good. Or some feel good story of a benefit you got from using it.