You can put the code files into a project without actually copying them into the project. In other words, just keep the class files in a completely separate location. Import them into many projects, but uncheck the option to copy them in. The projects will still refer to them successfully. Now a change made in the class files will propagate to every project that uses them.
Also, consider whether workspaces will help you.
In my view, almost anything is better than making a library or framework!