You really need to look at the photometric data for the LED you're planning to use. And then adjust placement based on your lighting needs/desires. Frankly, I'm of the opinion that too many cans can always be dimmed while maintaining placement. Realizing you don't have enough life after the fact makes for lousy can placement or a lot of work/expense rearranging things.

That looks great! I was thinking what annkh said about the BR 4 closet: take out the rod/shelf on the back wall and you'll have full use of the rods on either side (no dead corners.) I'd put a big mirror on the back wall so when she gets dressed in there she can see how everything looks. Looks like a great set up for a teen! This is a small thing but I'd move the door to the BR4 closet to the right to be closer to the bathroom, and have it open toward the other side of the closet (the right side.) This will give you just a bit more space in that corner of the room; maybe put in a comfy chair and a hanging light for a nice little reading spot. Or, depending on how you all feel about accessing the closet from the bathroom, flip the orientation of the closet so the two rods run along the top and bottom, the door opens from the bathroom, and the back wall (where I'd put a big mirror) is to the left. It takes away wall space in the bathroom, but it gives you a long wall in the bedroom for furniture, and it means that she can go from closet to bathroom without passing in front of the bedroom door. (Mockup below.) You have tons of awesome storage already, but you could also add a closet under the higher stair landing, opening toward the ping pong table. This could have storage for paddles, balls, games, etc. Also, you could store your wrapping paper there; my mom always wrapped presents on their ping pong table because it was such a great place to spread out. Finally, what do you think about adding a small, apartment sized stackable washer and dryer? This would be great for pool towels, wet suits, and so your daughter and guests could do laundry without bringing it upstairs.(Same with sweaty exercise towels if you do have the workout room.) I know, I'm getting greedy here, but just thinking about making life easier. :) You have plumbing down there already, so adding one might not be too much of a stretch. (I have a second laundry in my basement and I love it when we have tons of laundry, like after a vacation. I also use it for cleaning rags, towels and sheets from the guest room, etc., so it gets a lot of use.)

The OP wrote, "...We need four bedrooms..." Where do you need or want the bedrooms? All in the basement? Split between ground floor and basement? Or? Bedrooms, by building code, must have an exit window, and by good design, need reasonable natural light and avoid feeling that one is in a below grade "cave". I don't know what size house you have in mind, and the slope of your site, but getting four bedrooms in the basement, complying with code and having a pleasant, inviting environment about them all may be a rather tall order. "...We had also considered a traditional split bedroom plan with a rec room and other features in the basement but were worried about cost..." A plan with a minimum of two bedrooms on the ground floor (plus 2.5 baths), and two (plus at least one compartmentalized bath) in the basement makes a lot of sense. Is the cost issue related to the rec room and other features?

Wall of lowers less wide, would you use drying rack, or 3-section hamper? I have used those to make it easier. Has flat for sweater, hanger for jacket, etc... they sell larger one: https://www.amazon.com/Rolling-Clothes-Foldable-Standing-Stainless/dp/B07H36LT34/ref=bmx_1/131-1013488-4153316?_encoding=UTF8&pd_rd_i=B07H36LT34&pd_rd_r=6de191ee-6873-4b52-81f1-71e70869410c&pd_rd_w=jkrc4&pd_rd_wg=IbZli&pf_rd_p=02042878-e09f-472e-9f67-7228b145b542&pf_rd_r=J02HWFC1SG9YJCQEHB9T&psc=1&refRID=J02HWFC1SG9YJCQEHB9T ------- 70"H x 30.5"L x 19.5"W - the width will be 26" when rack is expanded.