The big risk I'm taking with the design modifications is to change the weight of the centerboard from 52 lbs, to over 200lbs. This will, hopefully, stiffen up the boat and make it less tender. To accommodate the heavier centerboard I'm beefing up the centerboard box, and making the keel a little wider as well. I've done a ton of research on how this will affect the sailing characteristics of the boat and I think it'll work, but I'm not a nautical engineer and there's the chance it could go badly. We'll see- I might be rebuilding this next year if it doesn't work out.
So far I've spent about $600 on hardwood, mahogany and white oak, and about $1000 for a lot of mahogany marine grade plywood. The frames will be out of white oak and mahogany, the hull and some of the cabin will be from the plywood. The brightwork/trim will be mostly the mahogany. The cabin floor will be of white oak. Still have to make some decisions about the seats, and the deck; I plan to see how the boat progresses and make those decisions down the road.