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Rising from the shores of its deep harbor to ring the great mountain standing tall out of the Sea of Swords is Waterdeep, the City of Splendors and the Crown of the North.

To all of Faerûn, this great metropolis stands as the pinnacle of what a great city might be, in wealth, influence, and stability. Here, the citizens work, the nobles sneer, and the great masked lords plot and scheme, all while merchants dance between them to collect their coins and continue profiting as best they can. Waterdeep's shops and merchants offer goods of every sort from every corner of Toril, and even the rarest of items can be procured with sufficient gold and patience. Adventurers lacking one or the other can very easily find all manner of employment, from simple escorting of caravans, to guarding nobility, to investigating a ruin or rumor of monsters anywhere in the North.

Though it has stood for hundreds of years, Waterdeep is only now returning to its status of a century and a half ago after the Times of Trouble, the Spellplague, and finally the Second Sundering. Over the course of the period now known as the Era of Upheval, all manner of catastrophes started altering the very nature of the city.

Now, the City of Splendors is on the mend, though recovery has not been without its hiccups. Lord Dagult Neverember, who led much of the economic reform within the city, was ousted as Open Lord in favour of Laeral Silverhand after the discovered misappropriation of around half a million gold.  A plague chased most residents out of the Warrens and Downshadow, and living or digging below the city's surface has been deemed illegal except by those authorized by the lords to do so.

Still, the Navy of Waterdeep has been restored, the City Guard, City Watch, and the famous Griffon Cavalry reformed. The city's economy has stabilized, while the quality of life for the average Waterdhavian has improved.