Drop ceiling tiles supported by molding. Looks like coffered ceiling!
StyleStix - molding covers for drop ceiling
Awesome option for drop ceiling update. Really nice cabinet built in photo on their website too. Not sure of pricing.
How To Install A Basement Beadboard Ceiling To Replace A Drop Ceiling | Tutorial from Provident Home Design on Remodelaholic.com
This system takes up only 1" of space, compared to 4-12" for a traditional drop ceiling. Another version: Ceiling Max is available at retail stores but at a higher price.
Better Than Tin Ceiling Tiles - No more spungy looking dropped ceiling tiles.
2x4 drop ceiling tiles that don't look like drop ceiling! LOVE This website also has tape and grid strips to cover the ugly T bars
thin plywood for drop ceiling - PERFECT for our basement project!
Basement remodel Photo posted by Crystal Clear Home Renovations located in Oshawa
20+ Cool Basement Ceiling Ideas More