I'm going to be honest, I don't know exactly where this facility will be located. It seems fairly obvious that it won't be on the NWern side of the marina/inlet with the football facilities, especially since the BANC will now go in along the curve of the marina area. There appears to be a triangle of land between the Mays Soccer Field (visible below) and the Hurd Tennis Center (visible on Baylor's official map but not updated below, because Google has not yet updated their maps), but I don't know if that's the spot. From the release:
To be located within the Julie and Jim Turner Riverfront Athletic Complex, near the entrance to the Betty Lou Mays Soccer Field, the 14,500-square-foot Williams Family Soccer and Olympic Sports Center will provide the women's soccer program and other student-athletes with a range of amenities. Construction is slated to begin this summer, with an anticipated completion in early 2015.
Reading it again, I'm not convinced that triangle is the spot, actually, but I have trouble imagining it anywhere else.
One thing worthy of note in all this is the inclusion in the facility of lockerrooms for visiting teams. I've heard before that this is a problem with the baseball facility as presently constructed, so this Center would seem to fit many needs at once.