In 2021/22 alone, £23.4 million will be spent on improvements to around 5000 properties, members agreed at a meeting of the full council on Wednesday.
That means £8.8 million will be spent on work such as roofing, roughcasting while £3.8 million on replacement kitchens and bathrooms.
A further £8 million will be spent in the next year on replacement doors and windows - the start of a programme to upgrade every property.
In total, £7.9 million will be spent on energy efficiency works, as 1100 properties each year get new heating systems at a cost of £2 million.
There will also be heating upgrades to three high rise blocks.
Further work will also be done on replacement cladding at Glenfuir Court.
A further £1.8 million is allocated for fences, walls and paths while £1.65 million will be invested to complete the Council’s programme of upgraded smoke and heat detectors.
Also included in the five-year plan will be investment that will deliver more than 600 new-build homes for rent in locations including Hallglen, Bonnybridge, Denny, Banknock, Polmont, Bainsford, Stenhousemuir, Torwood and Langlees.
Falkirk Council will continue its programme of ‘buy backs’ of former Council homes purchasing around 80 properties a year at a cost of £6 million.
Around £40 million of the funding for new-builds and buy backs comes from Scottish Government grants.
SNP Councillor Gordon Hughes, spokesperson for Housing said: “We have faced a really challenging year because of COVID-19 however we are aiming to deliver a really ambitious programme of work in the coming year for our 16,000 tenants.
“The rent we collect and other funding allows us to keep our properties at a high standard as well as planning new homes and allowing us to buy back properties.”He added: “This programme of work will certainly help support the economic recovery with a £330m spend over the next five years."
The meeting also agreed to a rent increase for council tenants of two per cent.