In our community of Beverly Glen, we are challenged with the only street for our residents that is also a heavily trafficked commuter street. An idea of balancing that is to encourage employer sponsored carpools (single or multiple employers). Century City is a major commuter destination through Beverly Glen, if companies got together, they can sponsor shuttles, carpools and possibly car share services. If City facilitates organization and/or requires in development as EIR's almost never take into account the real impact through the streets beyond the immediate radius.
Many canyons share this issue, Benedict Canyon, Coldwater, Laurel. North-South commute between Valley and LA is a major source of congestion and part of it is sharing of streets for residential access and commuters.
Smaller bus lines can help alleviate, again, if combined with car share services so if people want to take care of errands, they can. Employers and Cities share than burden, maybe in a non-profit organization to facilitate that. Perhaps like a BID, instead a TID (Traffic Improvement District).
Two ideas in one but when MTA wasted $1.2B on one additional carpool lane on 405 instead of a light rail, how about 5 car pool lanes (canyon roads) by setting up a simple infrastructure.