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ohad wrote:What is the meaning of "the promise of every street" here?

Every street seemed to promise something good for you. Every street seemed to hold, and offer, something special. This expression is used in a figurative, non-literal way, about a feeling that you get from something. In this case you feel that the streets are good for you, or are going to be good for you in some unexpressed way. Perhaps you feel that in these streets you are going to find what you have been searching for.

With the election of a new president comes the promise of peace.
It promised to be a day we would never forget.

As you see, this can be used as a noun and verb. Don't confuse this figurative (almost poetic) use with the literal use:
The presidential candidate promised to bring peace.