Can Simulink Project handles concurrent projects and multiple repositories?

We want to set-up Simulink Project with source-control for a large-scale project deployment. In the past, on other projects, we have been using RCS with a customized front-end.

We moved from 2009a to 2015a (stuck at this version because we need code generation at 32bits, and this is the last version that supports it), and trying to take advantage of the new features such as Simulink Project.

I've been reading on Simulink Project but I am still unclear how to best use it in a large-scale project, mainly: - Handling Binary models (.SLX) to avoid using TBs of disk space - Splitting projects into several concurrent modules: Libraries, Tools, Models

To go around the huge disk-space needed by Source-Control of binary models, I devised the following work-flow:

From my preliminary testing, it sounded that trying to set-up two projects while from the same sandbox is not working. Also, are there any other ways used by the community to avoid the disk space creep for handling binaries. (Missing the old days with text based .MDL were much manageable).

Feedbacks and comments are appreciated

Francois Godin