This tree is one of many cultivars ['Bradford'] of the Callery pear (Pyrus calleryana) which is native to China and Vietnam. It was brought to other parts of the world (152 different counties ) because of its beauty, hardiness, as well as tolerance of various "soil types, drainage levels, and soil acidity."  However, the trees have proven to be an invasive species in some areas because they can reproduce prolifically under certain conditions.
The various cultivars are generally themselves self-incompatible, unable to produce fertile seeds when self-pollinated, or cross-pollinated with another tree of the same cultivar. However, if different cultivars of Callery pears are grown in proximity (within insect-pollination distance, about 300 ft or 100 m), they often produce fertile seeds that can sprout and establish wherever they are dispersed. 
There is a factory nearby that takes wool and makes end-user products from it. The entrance road to the factory is lined with Bradford Pear trees, which resembles little balls of wool from a distance, so I jokingly refer to them as "Wool Trees." 😁
1 Wikipedia: Pyrus calleryana