Unorthodox separation - is it possible

Background: 36M married for ~8 years. Two girls, 6 & 4

Sadly, I think my marriage is heading for divorce, or certainly some kind of separation. I'm staying at a friend's house this week and going home tomorrow to talk to my wife and it will probably end up with me leaving the family home.

Why are we separating? Lots of different reasons but mostly communication has broken down and whatever communication there is, it is arguments. There's been no infidelity or any major incident like that

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I'm pretty clear in my head that I don't want a "traditional" divorce where I see my girls every other weekend. Not only is this unfair on me and them, but also there is no way I can afford to buy a house big enough and buy all the stuff young girls need to live (toys, clothes etc). My view is our home is their home and they should continue to live there.

This is where I have a hair-brained idea for a "blended co-parenting" arrangement. In short, I would move out into a smaller flat that we can afford to rent alongside our family home. By renting close by, I can still be round a few mornings a week to have breakfast and take the girls to school, especially as my wife works 3 days a week (I work but I start after the school run). This means that I get to see the girls little and often rather than a really high pressure weekend where I have to get everything perfect.

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Does this sound realistic? I know my wife will struggle to accept something like this but if anyone has made this work, I'd love to know how you achieved it.