Absolute phrase with preposition


I came across this sentence but can't understand the grammatical structure.


Despite there being a blizzard in the area, business remained open as usual.


In the phrase "Despite there being a blizzard," I can tell "there being" is an absolute phrase. Then why "despite" is used? Can an absolute phrase function as a noun phrase? Or is "there being" not an absolute phrase but a gerund? But if it is a gerund, that doesn't make sense in terms of grammatical structure.


Why and how "despite" can be used with an absolute phrase?




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