Interesting idea. I think it would be more practical if they had parking garages on the edge where folks could still drive places if needed. I'd be happy to use my car much less and be able to walk to everywhere I needed to go normally in the neighborhood. Add in pets and children, and having the ability to use a car whenever becomes a lot more convenient.
Cool, they'll probably just park down the street, shifting the burden to other people and infrastructure. Another externality the developers can exploit...