No.
Few things here.
1. You lose fat in a pre-determined genetic fashion. Meaning, the first place it comes on is usually the last place it comes off. For
most women, this "first place" is usually the hips and thighs. If that is the case, that is the last place it will come off, more often then not.
2. Building muscle and losing fat simultaneously is not something that is possible for the most part. Simple logistics state that to add more muscle (which by the way is a very expensive process energetically speaking), you are certainly going to need a surplus/excess of energy (calories) to support the process.
On the flip side of the equation, to lose fat, you need a deficit/shortage of energy (calories).
So, as you can see, gaining muscle in order to lose fat isn't all that probable. You are better off focusing on one goal at a time.
3. The level to which muscle adds caloric expenditure is grossly over-stated, IMO. Certainly, if you are going to add tissue, best to add muscle. It does wonders for aesthetics, health, performance, etc. And it
does increase metabolism, certainly. The latest numbers I have seen on the topic is 6 kcal per pound of muscle. You certainly aren't going to add 20 lbs of muscle in a year, right? So, it would be easier to simply cut out that on candy bar that is worth 120 calories.
Don't read me wrong, I am all for building muscle though.