However attractive the area is, if you have to make a trip you'll only go there infrequently. Large parts will be dedicated to parking. Transit may be a pain to get there.
Not to say it can't have value - it can be a central point to bring together a larger low density community. But there's only so much need for something like this.
Compare with what is usually meant by a "walkable" area. Medium or high density housing mixed with local businesses. Enough residents within walking distance to support local restaurants and shops even during the week, not only on weekends.
Not a common model in North America unfortunately, the trend is either low density residential housing, or high density condo areas without much commercial or public spaces.