Answer: Rhododendrons (and azaleas) will not tolerate a wet location, so unfortunately this would not be a good choice for this spot. You might want to consider replanting with hollies again since you know they do well there. You might use a groundcover that enjoys a moist soil as well, such as pachysandra or lily of the valley or Vinca minor (periwinkle) or even ferns.
Or, you might want to look into improving the drainage in that area. I mention this because usually it is not good to have excessive moisture along the foundation, so you might want to look into redirecting the water away from the house. For example, this might be due to lack of gutters, a down spout that should be extended away from the house, or changing the slope of the ground so it slopes gently away from the foundation and directs water away.
Your local nursery staff should also have suggestions about what to plant there based on a more detailed understanding of the planting site (size, amount of shade and at what time of day, soil type, wind exposure, and so on) and your overall design goals.
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