Yes for the area rug.
The dining bench does not itself to a formal room though. Also your mirror isn't working with your buffet. Your window treatments will need to be changed too.

It seems that the space is a bit cave-like with smallish windows. I would suggest tasking your paint chip to a fabric store and see if u can find some fabric for simple floor length panels and for the seats on the car. If that fabric has some of your call color but also several colors, you'll have a ready-made color palette for an area rug and art work. I would switch out the mirror for a much larger one, possibly with some interest. A back frame would like great with your paint color. Adding some additional sources of light, such as a pair of banquet lamps for a buffet table or a pair of sconces flanking the mirror would be great too.

Sorry for all the typos!

The mirror has been a sore spot since we hung it up. We originally wanted a larger mirror but the in store designer talked us our of it.

@emily no worries about the typos. Thanks for the ideas

@Sharin The window treatments came with the house. They only up until we can decide what to put up. The bench is brand new and works for 3 children 7,3 and 2.

I'm not a designer, I'm an artist...but I can offer what I think about it. ;)

I know you want a formal space, but this space does not look formal to me. The furniture choices, the chandelier, even the low ceiling...none of it breathes formal to me.

The furniture you have is beautiful.

Just a thought, but maybe the aim should be more like "semi-formal."

You seem to have a rustic country vibe going.

I think the mirror is just fine. It needs a pair of sconces on either side to help balance it. Drapes do need to be changes to straight panels that are not tied up. i agree that the bench while trendy is not very formal and is not condusive to dining. They are very uncomfortable for any long period of time. Ad a rug to the mix and 4 more chairs, two for table and 2 flanking buffet. Also place a runner on the table to make it a little less rustic. In regards to paint I would just paint the whole room the color of your choice, BM revere pewter and see then if it needs more like wainscotting or panels ( which I dont think I would recommend as they may make your room look smaller but not more inviting. looking good so far.

Formal? Than everything goes except the chairs and buffet. I would mirror the entire back wall and have wall to wall floating shelves arcross the room over your buffet. Put in a round glass table. I new glam drum shade pendant. Silk drapery- floor to ceiling. Area rug and paint walls and ceiling.

The chairs and topiary can be considered "formal" but I can't see the buffet to determine the vibe. Try a round glass table to expand the visual space, the 4 chairs and a rug. You might be able to keep the buffet but I'd hang the mirror vertically. Floor to ceiling drapery that closes the window entirely will keep it formal feeling. If budget allows, add a larger more exciting window.

Don't think my post went thru......sorry if this is a repeat. I'm going with the approach that by formal you mean "not part of the kitchen". What colors are in the adjoining room(s)? I would swap the two chairs and the bench to the opposites sides of the table from where they are now (so the chairs are on the window side). Then add artwork (or even some narrow shelves) to the blank wall side of the table. Since you're getting new window treatments, take one of the accent colors from the new drapes and paint the walls that color instead of grey. While I'm not a fan of area rugs in dining rooms, a rug would warm up the tile visually. Some of the pros will weigh in here with color choices. Great furniture!

@jabbott2012 thanks for understanding me and I apologize to everyone else.

The title Formal Dining for us is just the name of the room not that we are truly formal. We do not want a museum room or a room that is over top room. The adjoining rooms are painted a light gray with purple accents colors

Can you post a couple of pics of the adjoining room? That way we can see the purple (eggplant? periwinkle?) and a little more of your style.

I will take some pictures later. We are using Aubergine, which is close to egg plant but a few shades lighter. This picture is in the room
http://www.zgallerie.com/p-13465-aubergine-petals.aspx

Beautiful piece...=)

You can find art ideas for your dining room on our page. Enjoy!... Raisa

Yes area rug large. In dark gray can use print. 8x10. Replace window covers. Replace mirror with bright art big. Place two large bushy plants on either side of chest. I love the pewter color putting 4" moulding as chair rail 3 ft from floor. Then adding smaller moulding in 18" squares along bottom think picture frames. Paint rail and frames white. Put white panels on black rod on window. Have them go floor to ceiling. Mirror can move to other wall with black long candleholders. Use silver as accent on table. If you can replace chairs I would with black leather or teal Pier one has them high back. Lose bench. Declutter. Lite looks ok.

This is a picture of some the other rooms. Please mind the mess. Thanks for all of the great ideas. The focus originally was just how to finish off the room with the table aka formal dining room.

I'm posting again in order to bump up your request. I'm hoping one of the pros will chime in on some color choices for a paint color. You have great taste, btw!

cj now that I have seen some of the other rooms and how this ties into house I think I see what you like.The room needs some drama, and that you can get with paint. Here's one vision for you -

Start by painting this room a mid-tone gray - purple - something like sw quest gray http://www.sherwin-williams.com/homeowners/color/find-and-explore-colors/paint-colors-by-family/SW7080-quest-gray/ and get a modern rug with blue and purple and white and gray. Paint the ceiling a pale blue with a purple undertone - like http://www.sherwin-williams.com/homeowners/color/find-and-explore-colors/paint-colors-by-family/SW6239-upward/ Get a modern deep rug to cover most of that white tile floor http://www.overstock.com/Home-Garden/Handmade-Cambridge-Moroccan-Light-Blue-Wool-Rug/7530653/product.html
Now - paint some big trim around the window but lose the drapery. If you need light control there then hang a wide white linen soft roman at the ceiling line so when you pull it up it looks like a valance over the window.

Keep the trim crisp white, take the wood chairs (that may not be here anymore) and paint them sw aluetian from the ceiling card. Put a stripe slipcover just over the back upper area so they can play in the room as a formal thing - http://www.calicocorners.com/product/designer+fabrics+for+the+home/shop+by+pattern/stripes/abigail+stripe+-+robert+allen+fabrics+graphite.do. or http://www.calicocorners.com/product/designer+fabrics+for+the+home/shop+by+pattern/stripes/primative+stripe+navy-natural.do Add a velcro bottom wrapped pad for your bench with a wow fabric that ties back to the cream chairs http://www.calicocorners.com/product/designer+fabrics+for+the+home/shop+fabrics+by+color/purple/avadi+shine+-+robert+allen+fabrics+berry+crush.do (you can take it off when kids share it :-))
make a runner for your table with this too.

Take the art that is in there now in autumn colors and put it in a room upstairs. Add art with silver frames, silver chargers.

@jabbott2012 thanks for all of your help and kind words. Hopefully I can return the favor or pay it forward

Libra, wow!! You obviously a lot more than I do. I may need to ask you more questions. Great fabric choices.

You can make your windows seem larger by buying a rod much wider than your window (by two feet on each side) raise rod as high as you can and buy curtains that fall to the floor a foot longer. Make sure curtains are pushed back on both sides not blocking window but not showing the wall either, giving the illusion of a larger window. Also, take mirror down and replace with a larger picture one that is as wide as your hutch and as tall as the wall up to two feet from ceiling. This will drawl your eyes upward making room appear taller. Place a rug under table with a flower arrangement in center moving upwards and out, not just outward. Put table runner on table, not flat but scrunched a little around flowers. This will give the room some warmth. Good luck and remember the beauty of the art (or room) is in the eye of the beholder. So if you like it then it's perfect. God Bless Candace

If you decide to do wainscoting, you might want to look at the paintable wallpaper version.

http://houzz.com/photos/260939

How would this rug work for this space?

You have some great rooms there. I think the rug you posted is beautiful but I feel it is too gray and the tile and dining chair upholstery is quite warm. I would add more mirrors to the mirror wall, a whole collection and a couple of mirrored sconces too. I wouldn't do any of them in that dark wood though. I think light flowing curtain panels hung on wood rings would be pretty and light but the wood would tie in with the furniture. The buffet is kind of small for the room, but maybe some tall plants on either side or even a pair of floor lamps would fill the space and might improve the lighting. One light is definitely not enough there. The bench can be made a lot prettier with a cushion made of some gorgeous tapestry fabric, maybe picking up the artwork colors, and a long table runner with a candelabra on it would be great on the table.

cj12, I noticed the wall in one of your pictures is green. are you using that color in the adjoining room? what would you think of a lighter green in the dining room?

Jabbott, we do not have any green walls in the house. All of the adjoining rooms are painted gray. We are ditching the mirror over the buffet for a larger one. Hopefully Pottery Barn will take it back.

cj12, here are some ideas for color combinations for your dining room.

And a few more. I think you could use a light grey on the walls as long as it was a warm color, since your tile floor has warm undertones. Or like the one picture below, incorporate some warm color with the curtains.

Oops.... here ya go

@jabbott2012 thanks again for the great ideas.

We are going to try to introduce some blues like aqua and others that play well with the purple from the other rooms. We returned the mirror today for the larger version. We are also looking for a table runner. If anyone knows where to find any please let me know. Here are some ideas we have for additional items to the room.

Here is a table runner that is sort of default right now. These candle holders are also a possibility.

I did not know how to add this via the links but here is the color we are going to paint the room.