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It's certainly within the realms of possible but after you've factored in the cost of mods from a framebuilder, and a respray, you will likely find it is cheaper and easier to find another bike to satisfy your puffy tyre desire... you could leave the frame as is and get some 650b rim brake wheels and tektro long drop brakes, could be fun...
finding brake calipers that will clear 38mm on 700c will be difficult, so you'd probably need canti mounts fittedEdit: is the frame disc or caliper brake? if disc just go 650b...
I have a Condor Acciaio (sp?) which I like a lot. It has clearance for 25mm tyres but I'd like to run something much wider say 38mm. Would it be possible to have the frame modified to do this? I am assuming that it would require a new rear triangle, and new forks. Is this a sensible way of keeping a frame I like or a stupid idea?