Also on these boards
Household Closet: Extra Storage Space Make the most of otherwise unused space -- such as beneath a staircase -- by building a closet. If the bonus space is near the kitchen, add shelves and countertop to create a butler's pantry. Off the basement media room, create a mini library for DVDs, CDs, and portable electronics.
Forget the "valentine" vignette - this is an excellent use of what is normally wasted space. Now I just need a house with a recessed stairwell!