I have trees planted in a similar situation due to the shadow cast by an immense rebuild directly to the south. So far it works for me, but my "soil" is basically dune sand so it takes a lot of rain (which, sadly, we don't get) to actually saturate it. I would think that unless your soil is total clay or actually boggy you might be OK.

Another "lemonade from lemons" aspect of this kind of planting situation is that you can get a boost on chill hours. That varies by climate of course. For me, right by the water, if the sun is not reaching the ground, it can get really chilly in the Fall and Winter (sometimes in the Summer too!!!).