The devil is so horrible who would even want him around much less in Heaven?
To answer your question: Could-heaven-and-hell-be-the-same-place? NO!!!
What if life here on Earth was actually hell.
When we die, we are judged. If worthy to go to heaven we go to heaven. If not worthy to go to heaven, we are reincarnated as a different person and live another life as a new person on Earth. Kind of like the movie Groundhog Day, we are send back to live another life, hopefully to live a live worthy enough to get us to heaven. We come back to Earth until we get things right.
You are a Catholic so you KNOW that reincarnation does not exist. That is a Church teaching so why would you even offer up such a suggestion.
To speak of one part of your question, can heaven and hell be in the same place? Jesus once said there was a great chasm between a man in heaven and a damned man, so that one cannot pass from one place to the other:
Luke 16:19-26 The Rich Man and Lazarus
19 “There was a rich man, who was clothed in purple and fine linen and who feasted sumptuously every day. 20 And at his gate lay a poor man named Lazarus, full of sores, 21 who desired to be fed with what fell from the rich man’s table; moreover the dogs came and licked his sores. 22 The poor man died and was carried by the angels to Abraham’s bosom. The rich man also died and was buried; 23 and in Hades, being in torment, he lifted up his eyes, and saw Abraham far off and Lazarus in his bosom. 24 And he called out, ‘Father Abraham, have mercy upon me, and send Lazarus to dip the end of his finger in water and cool my tongue; for I am in anguish in this flame.’ 25 But Abraham said, ‘Son, remember that you in your lifetime received your good things, and Lazarus in like manner evil things; but now he is comforted here, and you are in anguish. 26 And besides all this, between us and you a great chasm has been fixed, in order that those who would pass from here to you may not be able, and none may cross from there to us.’