I think your idea is a good one. If you can't do a built-in for that lower part, maybe find the console first, and then consider its height when drywalling in the upper part for the TV.

Is that the only spot your tv can work? I'd suggest doing something funky and different with shelves and lots of books!

If not your tv.....maybe? :) .....
Good luck! :)

Books!

Build a custom cabinet to fit the space. Add fixed shelf above the TV with LED lights in ceiling creating a display area for artwork or glass art. You could add a mirror on the back wall of the upper section to enhance what ever you display.

The center area is for the TV which I would recommend bringing it forward, so more people can view from most any where in the room. If you have it mounted 20" back on the wall it will appear more like a cave and may be to hidden for everyone to see.

The bottom base could be for drawer storage for DVDs, games, or open bookshelves on either end to house cable box, DVD player, etc..

Thanks for the great ideas everyone. We really appreciate it. We are thinking of doing something like this with a cubby just for the tv. We have a 55 inch tv but have measured and will create a cubby to hold a 65 inch in the future. Maybe a smaller cubby above tv for speakers down the road?

Also thinking of putting in a wooden media console below the tv cubby. Thoughts?

How deep should the cubby be? Gut says not as deep as it is now. It is currently 23 inches deep.

Are you mounting it or doing as in the example and sitting it on the shelf?

Sitting it on shelf

Then thinking of sliding something like this in under cubby/shelf holding the tv

Wyland...way to go. But instead of drawers i would like shelves to house the dvd's/vcr's. Thx

Do you know the depth of the console? :)

@mermaide, :))) that book shelf photo makes me dizzy

Starting to rethink whether having a tv with a width of 60 inches would look good above a wooden media console that is only 61 inches wide......

Still looking for consoles range from 17 to 22 inches

I would decide on depth when you find your console/media cabinet. I think the width would be fine. I'd rather have them close in size than a way smaller tv. :) What is your width in the space?

60 inches

You need to check with the TV manufacturer's specifications. Many of TV's have requirements for distances to walls for air flow and heat to escape.

Many cabinet companies can have something made specially for your space. This gives you far more options such as; the exact size you need it to be, wood species, stain and finish. I'm an authorized dealer for DeWil's Custom Cabinetry and Showplace Wood Products- Fine Cabinetry and have designed many TV cabinets from both lines. Check your local area for a dealer near you.

Check out this link, very unique ideas for under stair space.

http://www.hongkiat.com/blog/creative-space-under-stairs/

I put a minifridge/drinkbar under the stairs in my old apartment. You don't really need a counter on those, and it's useful if your TV is going to be nearby.

Eventually we are thinking an 80 inch tv framed with crown moulding to cover entire cubby. Thoughts?