So, although you have less numbers than before, you still need to collect the original data. A real feature selection process would be able to do something like: "the proximity of the closest Applebees is not important to predict house prices, you should probably stop wasting your time calculating this number". As others have mentioned, L1 regression or some statistical procedure to identify useless features is typically how this is done. I would also add that domain knowledge is probably your #1 feature selection because we have to restrict the variables we input in the first place and which data we prioritize is inherently selecting the features.