The campaign is starting in Waterdeep, as you all well know.  It doesn't have to remain there; that's entirely up to you. There is a lot of writing about this setting and I thought it might be helpful for you all if I clarified where in the history of the Sword Coast we will be.

* The year is 1370 DR.
* Mystra is the goddess of magic, and she is very much alive.
* Piergeiron the Paladinson is the Open Lord of Waterdeep.

If anyone wants anything else clarified, let me know.