The consortium was a guild composed of magi and other arcane magic users. It's building still stands in shadow city.
The guild was to be neutral ground and focus on advancing magic. Originally, Slore of Mystra, Imdak of Lathander, and Dakkon of Mask lead the guild. Eventually people left and years passed by. Only S'lore was around and had greatly dimished in power. She attepted to start up the guild again but it has largly been staked out by drow and followers of mask. She was murdered and the guild was closed as it had failed in keeping it's own precepts.
A decade or so passed and the once Talosian Mosutha left his faith to join that of Mystra. Slore returned to the realm and continued her lessons of cherishing magic and the weave. Mosutha and S'lore came up with plans to reopen the guild. They were joined by Lliira a notable bard who joined Mystra's service and Gwenhwyfar, also a bard of Mystra. Many mages and followers of Mystra flocked to the newly reopened guild and it's precepts. S'lore and Mosutha were to lead the Mages and Gwenhwyfar to lead the bards.
However, Mosutha did the unthinkable and left Mystra. He returned to Talos. This splinted the guild. Many called for Mosutha's resignation. Mosutha claimed that he would finish with the vision that Mystra gave him but to those that actually remained faithful to mystra he was no longer fit to lead. Gwenhwyfar defended him fearcely so much so that S'lore was the first to resign, unable to accept a scolding from a bard, mear dabblers in magic. Lliira and Isaiah were outspoken against Mosutha and repeatedly demanded that he step down or be removed. Both were met with the same treatment that S'lore had. Lliira left and Isaiah was forceably removed.
Not long after that, Mosutha showed his true colors completly emptying the guild of books and works of magic starting a huge bonfire outside the building on shadow mainstreet to the glory of talos. He closed the guild and claimed the building as his own kicking everyone out. Mosutha was hunted down and killed for his sins against Mystra. The building now sits empty and full of dust what it might have become no one will know.