The issue is creating a space for a group of teenagers to exist in would be a legal hornets nest that anyone touching it would get stung by. It is a sex scandal waiting to happen, a fight waiting to happen, a drug den waiting to happen and all sorts of other problems.
Ie, the issue probably isn't the market, it is that in practice there is probably going to be a soft ban on this sort of space because whoever provides it is eventually going to be dragged over the coals by their community. People sorely underestimate what regulation does to someone who isn't making a commercial return - it is all hard downsides with no possibility of upside except some social reinforcement. So they stop.