A slightly different take is available if you're a zsh user, as you can take advantage of named directories to replace the aliases. If you do this the directories you've added will show up in regular completions and be available as arguments to commands too. For example, `hash -d name=location` allows you to use `~name` for the path.

`run-help hash` for the basic interface, or zshexpn(1) for the gory details including fancy dynamic naming.