Hoi,
It is in the planning that Wikidata will use its engine for Wikimedia Commons. We are talking about the media files that is currently "only" 20,503,455 freely usable media files. The model that is considered is one where two Wikidata databases will be used. One for the meta data of the imagery and one for the more globally relevant information.
A similar thing can be considered for streets and stuff as well. Obviously it needs a lot of thought but from an abstract point of view, a street or an image, it is just another category of data. When it works for one type of data it could / should work for another type of data as well.