Boiler Change over to Ductless Mini Splits 28 unit apartment

[Daniel DeMarco]

I am in negotiations on a 28 unit 4 story apartment building.  I am looking to improve efficiencies of how the building operates.  It is heated with a gas fired boiler that costs approximately $40,000 to operate each year.  (North of Pittsburgh, PA) .  Currently each unit has their own electric meter and I am thinking about changing the heat system to Ductless Mini Splits for each unit so each unit will pay for the heat they use and they also will now have A/C which will allow me increase rent for that amenity.  Has anyone done this successfully in the past?  I know the initial upfront cost could be pricey but it will pay off in the long run.  Thoughts?