A collection of tools does not define the space. What matters is what the space allows people to make. WHAT ARE YOU HOPING WILL HAPPEN WITH THIS SPACE?
Need to think about
Materials
Network among your educators
Library of project ideas
The space itself
Training and support
Tools
Space – does it allow for social interaction and privacy for making?
Does it allow cross pollination of ideas to be exchanged?
The answer to the question, "How much X do I need?" is that you need enough of X to allow every student to exceed the expectations of your assignment and keep their object together long enough for others to admire it.