You may be interested in Rust language proposals for local memory allocators and "storages"; they may be enough for something very much like this. The lifetime concept in Rust is quite close already to that of a "region", i.e. an area of memory that the lifetime can pertain to.
Depending on the semantics of the implementation, something like that would go a long way toward eliminating one of my biggest issues with Rust. For a low-level systems language, it is imperative to offer 2 things, which are currently a pain in Rust: (1) you must be able to "materialize" a struct at an arbitrary location; why? Because hardware tables exist at a specified location and are provided by hardware- they are not created or instantiated in the host language; and (2) be able to reference structs from other structs, which immediately triggers lifetime annotations, which begin to color everything they touch, must like async does to functions.
And I admit, I loathe the borrow checker. Ironically, I never really have problems with it, because I do understand it, it's just that I find it too limiting. Not everything I want to do is unsafe, and I hate the way it has made people think that if you really do know better than the borrow checker, you must clearly be doing something wrong and you should re-architect your code. It's insulting.
