Nowadays conventional district heating and cooling (DHC) systems face the challenge of reducing fossil fuel dependency while maintaining profitability. To address these issues, this study examines the possibility of retrofitting DHC systems with refuse-derived fuel (RDF) gasifiers and gas upgrading equipment. A novel system is proposed based on the modification of an existing DHC system. Thermodynamic and economic models were established to allow for a parametric analysis of key parameters. The study revealed that such an upgrade is both feasible and economically viable. In the basic scenario, the retrofitted DHC system can simultaneously produce 60.3 GWh/year of heat, 65.1 GWh/year of cold, 33.2 GWh/year of electricity and 789.5 tons/year of synthetic natural gas. A significant part of the heat load can be generated from the waste heat of the upgrading equipment. The investment in retrofitting the polygeneration DHC system presents a payback period of 3 years.