also water-front, 1834, American English, from water (n.1) + front (n.). To cover the waterfront "deal with thoroughly" is attested from 1913; I Cover the Waterfront was a 1932 best-seller by San Diego newspaperman Max Miller.
watercourse
watercress
waterfall
Waterford
waterfowl
waterfront
watergate
water-ice
watering
water-lily
waterline