I have 'one of many' sewing areas in my basement...guess you can say it's the main one. No special things done for the machines or fabrics. Just a dehumidifier run in the summer but that would happen normally. The dehumidifier makes even dry basements smell so much better!
I also love my area down there because it's right next to the washer and dryer and laundry gets done very easily and quickly. If I quit for the day, I can leave the area just as it is and come back to it a week later and it'll be the same as I left it. No worry about someone moving something or company coming over!
Go for it! Provide adequate lighting fixtures and task lighting at your machine, and a radio and you should be fine.
I have a treadmill and a stationary bike downstairs and they're NEVER used!