The club will be seeking funding assistance for a wider plan which includes upgrading facilities and amenities in the Fenway area.
The Red Sox won the World Series last year for the first time since 1918, six years after Fenway Park opened. Last year, Boston sold out each of its 81 regular season home games.
Capacity is to be expanded by more than 2,000 to 38,815 for next season while the ultimate goal is to have nearly 40,000 seats.
The new development plan is likely to include restaurants and housing as well as a new local railway station.
