Franklin College has launched a 15-year, $85 million building campaign that could significantly alter the look of its campus.

The 1,000-student liberal arts college in Johnson County hopes to raise the money from private sources in a campaign dubbed “The Future Unfolds.”

The funds will pay for a new indoor athletic fieldhouse, a new residence hall and two new fraternity houses. The new living quarters would replace older facilities. The college also plans to add on to and renovate the classrooms in its Barnes Science Hall.

Renovations are already under way at Franklin’s football and track facility, and at its art center. Later in the building program, Franklin wants to renovate its Hamilton Library and its fitness center.

The building projects are part of a new strategic plan approved recently by Franklin’s board of directors.

“We’ve spent a great deal of time looking at how we can best strengthen the ways we prepare men and women for meaningful, creative, ongoing, changing careers,” Franklin President Jay Moseley said in a statement. “This strategic plan is the culmination of what we believe will enhance student learning and services, as well as ensure steady enrollment and financial stability.”

To help with the latter, Franklin’s board also hiked tuition by 5.95 percent for the 2010-11 academic year. The college pledged to keep giving scholarships to 95 percent of its students.