I don't know how difficult it would be to get the property, but there are some good sized chunks of undeveloped land that aren't terribly far from the Houston Temple, even if you have to go North a few miles towards Tomball.

I would think any new "BYU," it would make sense to build the campus (at a minimum) in the same "metro area" as a current temple. Dallas might also work but, from my recollections, the campus would end up further from the temple.