V.W.
Can you put some of the bulkier items in a laundry basket on the top shelf of his closet? In a year or so, he won't care about the fire hat anymore. Well...he might.. but you won't. And he won't want to take it with him when he moves out for college, right? So don't end up storing it for 20 years and then giving it to him expecting he's still going to want it.
He's young still, but it's a different perspective to consider when you are filling those totes for the basement.