Pleased business now opening with temporary housing (7)
I believe the answer is:
content
'pleased' is the definition.
(associated in meaning)
'business now opening with temporary housing' is the wordplay.
'business' becomes 'co' (short for company).
'opening' indicates taking the first letters.
'with' means one lot of letters go next to another.
'temporary housing' becomes 'tent'.
The first letter of 'now' is 'n'.
'co'+'n'+'tent'='CONTENT'
(Other definitions for content that I've seen before include "substance of book?" , "Satisfied - subject matter" , "Elements" , "Quietly happy" , "Satisfied, happy enough" .)