Saw a profile of this idea in Texas Monthly. The person heading this is working on commissioning a study for development to be funded through a kickstarter page. They have surpassed their goal of $71k and are now at almost $82k.
https://www.texasmonthly.com/arts-entertainment/texasland-theme-park-houston/
“I realized that Texas broadly, and Houston specifically, has all the metrics that my team look[ed] for: a massive and burgeoning population, a business-friendly environment, and, from the content side of things, a unique identity.” Houston hasn’t had a theme park since Astroworld closed in 2005, a decision McGee reminded me was made because the park sat on Six Flags’ most valuable land, which the company chose to sell, not because Astroworld wasn’t profitable.
Here's a broad overview of what they want to do from their kickstarter.