I always love it when I get to see other families' play spaces, so I thought I would share one of ours. We have one finished room in the basement. 1/3 of it is for our couch and TV and everything behind it is for Pookie. We got the storage system from ikea. It works really well for toys with lots of parts & for stuffed animals.
I got the foam letters and numbers were given to us from my husbands cousin. Since our walls are in such rough shape down there (notice the pealing wallpaper - not picked by us), I didn't hesitate to put them up.
I got the open shelf on craigslist for $20, it is $100 at ikea. I just put that down there last week and Pookie has been enjoying having her puzzles on it.
Not seen in the shot is a closet. Once we do a bit more decluttering, my husband is going to dry wall it, paint it and turn it into a secret hideaway for Pookie. My cousins had one under their stairs and I was always loved playing in there so much.
We also have some toys upstairs in our living room/ dining room - her kitchen and some other odds and ends are up there.