Will the Korczak Oak at the corner of Karolkowa and Krochmalna survive?

What will happen to Korczak Oak, Hungarian oak tree (Quercus frainetto) that grows a the corner of Krochmalna and Karolkowa streets close to the Korczak Orphanage building in Warsaw. 

The "Korczak Oak" is a listed tree with a girth of 440 cm, suggesting it is at least 150-200 years old, which means it was already growing there when the Orphanage was built in 1911-1912. 

Now they are planing a horseshoe building there. Will the Korczak Oak survive?