yup
listen up, you need to take center-pull brakes, and find the kind that have a decorative hole above where the brakes usually clip in, and make sure the hole is big enough for the screw that holds the brake pads, then replace the back curvy washer, with thin flat washers, so you can stick the screw that holds the brake pad through the hole in the top, and then, Bingo! you have brake pads riding above where they usually are, high enough to stop a bigger wheel...aka a 700/ (29" is a fake name for 700).
Now will a large mountain bike tire fit? chances are you will find a used 700 hybrid tire for free in your local bicycle store dumpster before you wanna waste money on a new one... maybe a even a set of free tires. And hybrid tires are faster and more durable on smooth roads, that aren't in the south.
If you live in the south, you will need to change the front fork, unless it is rigid, to a rigid one, in order to put a full size mountainbike 700 tire on.
In the south the roads are different, there are 3 inch gaps in the pavement every 10 feet, so you gotta be careful riding