Yes, you can - the advantage of the visible resource model is that it, unlike the Wonder model, is passable so it can be placed in a passage such as over a bridge. A unique building can then be used to represent it and the faction_capability can be used to create a faction-wide effect should you require it. We've taken this a stage further in the Fourth Age but you'll just have to wait and see ;)

The disadvantage is that there is no Wonder trigger of course.