Can you base a living room on a painting? I sure hope so!

I have a 10th floor rental apartment with a rectangular living room. We are allowed to paint, renovate, etc., but we haven't done anything yet. Currently, the walls are painted in a pastel yellow with an eggshell acrylic latex finish (yuck). The floor is a blonde wood set in a thatched pattern. We don't entertain much, but we have a beautiful view from sliding glass doors, and we'd like to keep that accessible (currently, we've just plopped a couch right in front of them!).

So here's the kicker -- we have a large (43"x34") Richard Franklin canvas print. I LOVE it, and I'd like to design the room around it. I see SO many great photos here on Houzz, so I figured I'd put the question in your collective hands! I've uploaded a room plan, a picture of the floor pattern, and the Franklin painting I love so much.