If it was my bike I'd borrow a set of 700c wheels from somebody and test fit them to see what needed to be done to make them work. You might not have to do anything but adjust your existing brakes. You might not be able to get even long reach brakes to work.
If you are looking at replacing a lot of parts, cost out the project first. It might be more cost effective to get a different bike.
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My greatest fear is all of my kids standing around my coffin and talking about "how sensible" dad was.