So, why Goblinburg?

I've been thinking about running a Basic Dungeons & Dragons campaign for a while now. Will I do it, I'm not entirely sure. I have my own old school ruleset to finish publishing and I don't want to mix both projects. But I want to get this from brain cells to pixels, so here we are.

Before I delve into what I know (and would like to know) about the setting, I'll just list what I want to do with this game/setting.

• Urban dungeons. I want Goblinburg to be a city as dangerous as any underground lair, while still being a place where normal people live. 
• Straight B/X rules with few alterations. I'm thinking of using Wonders & Wickedness for wizardly stuff. Not sure about clerics yet. 
• Sandbox adventures, as the Bearded Ones intended. 
• Goblins everywhere! I want most non-humans to be goblins. Be they reskinned races and monsters, or new ones. For example, the dude pictured above is a renart goblin, my idea of a kobold in this setting.