We've admired the look of textured wall treatments for a long time. Companies like modularArts and Inhabit have been selling modular wall paneling as an alternative to wallpaper, but from our experience, it's not an inexpensive application. Good thing someone's figured out how to get this look, on the cheap!
A writer at the StarTribune had been thinking about using a decorative wall treatment, but didn't want to spend a ton of money. By using some scrap pieces of MDF in 1/2" and 3/4" thicknesses and extra paint, he was able to replicate this modular wall treatment. He did it so well you almost can't tell the difference between the real deal and the DIY!
Get the full instructions at StarTribune: Waste not, want not