I placed mine very close to the resident's services plaza, the reason being that I want to make a "main street" of sorts where all the stores are close by with the villager and other houses further back on the island.
Put mine on the other side of my island where my "shop square" is gonna be, but I'm likely going to move it bc I don't like the placement as much as I thought I would.
Things might change later when your able to move facilities but I want to try to build a "downtown" sort of area close-ish to the water. So far nook cranny and the musuen are as close as possible
I put mine right above my plaza, since i had a little free space there between the plaza and the river. It looks really cute there, thought i plan to move it down and to the left a little once i get the ability to move it, since atm it's partially covered by resident services....thinking on it now tho, when that expands i'll have to move it away somewhere else or i won't be able to see in anymore. I didn't even consider that when plotting!