Multiple Service Entrance conductors from one drop.

There will be a load increase on a two family dwelling in my town. They are building an addition and adding a garage. Currently it is fed overhead with a 200 amp service for both units, but they are adding an owner's panel, and the second unit is getting demolished and will be all electric heat and appliances. Unit 1 will stay at 100A, owner's panel will be 100A, and Unit 2 will be 200A. Obviously it will be cleared with the utility first. Instead of purchasing 400 amp multi gang equipment, I thought I'd just drop another set of 4/0 SEU down to it's own meter base and disco for Unit 2. My question is, this meets the requirements of 230.40 Exceptions 1 and 2, correct?

See attached photo as an example.
 

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