I bought the Basswood and Spanish Cedar at Peach State Lumber in Kennesaw. Spanish Cedar is really nothing like Western Red Cedar. Its a bit heavier and not nearly as soft. Peach State has huge stacks of the stuff. Evidently its really popular for high end window and door trim.

According to CLC boats it not Cedar at all. Its related to Mahogany. I chose it because its very uniform in color and so close to the look of Cherry, which is a favorite of my wife. I really like the contrast between the Basswood and Spanish Cedar. With the light color on the bottom and dark on top, its almost the wood equivalent of an NDK or Valley boat. Hopefully, it won't be too heavy when its completed.

http://www.clcboats.com/shop/products/boat-building-supplies-epoxy-fiberglass-plywood/marine-lumber-by-the-foot/spanish-cedar.html

You can see progress of my boats here:
http://www.flickr.com/photos/91958255@N04/sets/72157635543653071/