Beyond the Euphrates, yes. In the city of Babylon, no.
A more extensive answer. From HistoryWorld.net:
“The city’s end directly relates to the Greek conquest of this region. In 312 BC Seleucus founds a new Mesopotamian capital city, Seleucia, further to the north and on the Tigris rather than the Euphrates. Much of the building material is brought from Babylon, which becomes a forgotten city until excavated in the 20th century. But at all times there has been an important city in this region where the two great rivers come closest together. Seleucia is followed, in it turn, by Ctesiphon on the opposite bank of the Tigris. And from the early days of Islam this has been the site, a few miles further up the Tigris, of Baghdad. “
Or, from the Cyclopedia of Biblical, Theological and Ecclesiastical literature:
“The Great City of Seleucia, which arose in its neighborhood , not only drew away its population, but was actually constructed of materials derived from its buildings... “The Great City,” “The Beauty of the Chaldean’s Excellency” has thus emphatically “become heaps” — she is truly “an astonishment and a hissing, without inhabitant.” Her walls have altogether disappeared — they have “fallen,” been “thrown down,” been “broken utterly.”... The natives regard the whole site as haunted, and neither will the “Arab pitch tent nor the shepherd fold sheep there.”
If you read Josephus again you will notice that he calls Babylon a country. (post #145)