iMovie on Multiple Machines

I do video editing in iMovie on more than one machine. However, unlike podcast audio I work on in GarageBand, I can’t choose a folder on my server to hold the project files in one central location. I end up with project files scattered among machines in iMovie libraries, taking up hard drive space.

Is there a way of putting iMovie projects into iCloud and access them from any machine? Even better, can I set it to access directly from iCloud and not have to sync them to the local machine? I’m getting a new MacBook in the next couple of months and need to decide if I need the 512Gb model for storage. Thanks!