While I do eventually plan to run HotDQ, I plan to run some adventures with the players ruling or watching over a growing Phandalin.
I wonder how many other groups decided to set up camp in Phandalin. My group ended up with the seedy tavern, which we're having repaired. At the end of the adventure, we negotiated a deal for the ruins of the manor, where we're going to build our group's base.
The deed, however, is in Candlekeep. We're going to have to work through HotDQ while we're down there (this was the adventure hook to get us further south). Since there isn't a "magic shop" for all of our gold, whatever isn't spent on armor upgrades, lifestyle, crafting, and a bit of whoring, will go toward our base's construction (after completion, we'll see about expanding our political influence and power with the purchase of more land). We've left behind a few competent, well-armed fellows to see to our interests.
I took inspiration from the show Sons of Anarchy for our D&D group. We're going to set up a club-house (in the style of a Viking mead hall) and a town stables, open to the public. Matching tabards. A name for this group still eludes us, but we wanted to make it to level 5 or so before officially forming the "club".
The old hideout dungeon beneath the land is going to be for the group's special activities. While we're not into evil stuff (my guy, for instance, is chaotic good), we don't mind supplying consenting adults with what they desire, so long as it doesn't hurt anyone. We'll keep the town leaders on payroll and plied with booze and fleshy delights. We buy local, so the townsfolk like us. We plan to employ a great many of the locals once the town starts to get bigger, due to the mine being reopened. We don't cause trouble, bully, or abuse our newfound respect. That would be bad for business.
We're rather adamant about the protection of Phandalin as a home base. Any orc or hobgoblin tribes that seek to prey on our neighbors will do so at great peril. I imagine, after HotDQ/RoT is over, the DM will base a lot of story around the area in the North.