Using the registry to store project settings

So I'm developing a piece of software that creates and uses projects. The projects are stored in a tree of directories (it's not one single file). Would it be in bad taste to dynamically create a key for the projects in the registry and store various settings about the project in these keys (i.e. last opened, file directory, etc). I haven't seen any other piece of software use this so I fell like it may not be the best option. What do you think?