Spruce would be my number one choice for strength, lightweight, and color. It yellows with age and when varnished, but nothing like pine which will go orange when wet-out and with age. It is very expensive due to guitar and airplane guys paying top $ for clear spruce.

White Cedar also good. Keeps its color when wet out, and doesn't yellow too much over time compared to other woods.

Paulownia is something really catching on. It's light like balsa, but strong like cedar. It has an appearance similar to white cedar with a light green tint occasionally. I doubt you'll find it in Canada, but if you do grab it.