We've used a similar corner shelving unit to create space in a small 7 by 9 ft room. It's a great, easy shelving solution for small spaces (although installing it was a bit tricky as the walls weren't plumb.
Feeling guilty for "taking" a bedroom for my office! This is amazing. i can see using this idea for the Hatteras House! The adage that "necessity is the mother of invention" clearly holds true in the invention of the Murphy Bed.