Some cities, yes. Jakarta comes to mind as a likely example. But if you look at photos of the areas of Jakarta that are submerged in water, it's clear that they weren't wealthy areas to begin with. I think wealthier cities like Shanghai or Miami will take a very different route.

IIRC Miami's issue is that a good deal of Florida is built on porous limestone, so water will just go under traditional flood barriers.

Especially coastal cities.