It sounds reasonable, but be sure to ask him. He may not like the idea of not having his own space permanently reserved at your home and take it as a sign that he is not welcome if you just do it without asking him (or override him if he objects).
Also, be careful about putting a TV in his bedroom. I know that if I put a TV in the older kids' bedroom, they would probably fall asleep with it on, stay up too late, etc. Make sure that if it's in there, you apply the same rules that you do to a TV that's in a common area. TV is enough of a draw at this age that I would suggest NOT putting it in the room because then it would be too easy for him to just hole up there and isolate himself when he visits while if he has to watch in a common area, it forces him to hang out and spend some time with you and his siblings.