If it's a front/entrance foundation bed, winter appearance of PeeWee (or any other hydrangea for that matter, probably with paniculata in tree form being just one exception) will make you to regret your decision of planting it there.
Otherwise, from the horticultural point of view, this would be a completely suitable location.

Thanks ego45. I think that it would probably look ok looking straight at the house since the hydrangea would have in the corner of a pie-shaped bed with a "skirt" of japanese hollies and irises that would remain evergreen and block, but I had failed to take into consideration that my front porch is one of the "sides" of the bed and so visitors would get a close-up view. I was just trying to find a place up front b/c I have an 85lb. border collie/husky mix that gets to play in the backyard and every once in a while gets a little excited and likes to munch on things with branches, which is not a great thing since hydrangeas are poisonous to dogs. Maybe there is a place that is far enough back in my backyard border that would be out of harm's way (he knows that he is not supposed to be in mom's flowers). Thanks for your help!