As it turns out Spanish cedar (cedrela) is not a cedar and it's not from Spain, go figure. SC is in fact in the Mahogany family (Meliaceae) and grows from Mexico south to Argentina. Most wood dealers carry it in 1/8" thick stock for cigar humidors but 1" boards are available and the cost is less than cherry. It is light and turns very easily, give it a try.
SC is now CITES listed and as such steps are being taken to manage the harvest as it is now a protected species.