I think the construction company is just being lazy and doesn't want to work around the tree but if it's a Bradford Pear, they'd be doing you a favor. If it's on the south side of the house insist on the replacement being something sturdy and deciduous so you get shade in the summer and sun in the winter. Cherry bark and Scarlet Oaks are great. You have some leaf pickup every year, but as hot as the summers have been lately, you'll save a fortune on electric if it shades your house.
If you want it as an evergreen green screen, get a Southern Magnolia.