Do You Have a Dedicated Craft Space?

When I started knitting, I stored my yarn and supplies in pretty baskets in my bedroom. Later I added a small cabinet and a drawer in the living room. Lately, my son's craft supplies have been taking over his closet and a drawer in the kitchen. We don't have much space, but I think that we may need to consolidate our craft supplies in one location. Do you have a dedicated craft space (like this adorable and well-organized one from Art as Life), or do you store supplies wherever you can?