Several new major developments in my area have done this. They have underground parking for residents and businesses only and for everyone else you get 5 slots of street parking and nothing else.

The problem is that public transit in my city is horrible. It is expensive, unreliable, slow, and has poor service coverage. These developments are 100% completely inaccessible to me both by car and by transit unless I'm willing to blow away the next 4 hours busing there and back for what would be a 10 minute car ride.

Cars are a cancer on the world and I hate them as much as anyone else here, but cities must give proper alternatives if plans like this are to work properly. Slow, stinky buses that only come every 50 minutes and spend 80% of their time stuck in traffic help nobody and yet they are all our politicians are willing to provide.