What is the best way to organise remote collaborative editing with Premiere Pro CC

I am writing to enquire about a solution for a collaborative project between two filmmakers in different countries.  Ideally, we would be able to have a cloud media library that could be referenced by both of us as well as a project folder with work in progress that would allow one of us to review the other’s progress or pick up editing where the other left off.
It is a relatively small scale project and I’m not sure what would be the best platform on which to base it.  We are currently both using Adobe Premiere Pro CC but it is the cloud library aspect which concerns me.  We would need approximately 2TB of space in order to accommodate all of the footage and work in progress sequences.
My immediate thought was to use the cloud storage integrated with CC, but as far as I'm aware there is not an option to increase storage size to the amount we would need.  My second thought was to use something like Google Drive or Dropbox, but someone has told me that it is not suitable due to issues in Premiere Pro referencing the files?  I'm not sure I completely understand the issue, hence the reason for writing.
Thanks

Adobe sells the Adobe Anywhere platform for collaborative editing, but it's not a realistic option for small-scale projects due to the huge investment in hardware required for the servers. Premiere in desktop mode isn't designed for parallel editing - two people cannot have the same PRPROJ file open at the same time, and you cannot merge changes from two separate copies - so if you're sharing the project file on a cloud service you will have to ensure that only one editor is working at any moment. Without active file locking, that has to be done through a manual process (phoning to confirm handover, etc.).
Sharing your original source footage on a cloud service isn't necessary as Premiere won't be changing those files - so the inexpensive option is to distribute copies on hard drives to both editors, and/or for the primary editor to set up a proxy workflow so the project files are much smaller. Both editors then work of locally-saved copies of the footage and download the updated PRPROJ file from the cloud service when the work hands over. Premiere can rebuild its preview/cache files provided it has the source material and the project file in the same place, so both editors would set up the same absolute folder names - don't work from a My Documents or ~library folder!

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