Ehh, I’m not sure if I’d support this — 1,000 food isn’t a lot (six turns for mid-tier nations, on average) and being out of food isn’t game-ending. If you insist on food, increasing the food stored to 5-10k might make this project worth it at 25-50% its current cost, but it’d still be fairly weak.
If this were to store 1-2k muni + gas, on the other hand, I could see this project as being much more viable.