Workmen began stripping out the old lift on Monday, ready to start work on installing the replacement which should arrive next week.
The stadium company is now hopeful that the brand new lift will be operational by mid-February.
The main passenger lift , which is also used by customers of Westfield Cafe as well as Falkirk Council and Community Trust staff, has been unavailable for several months although visitors can use another lift.
Green energy is the goal for Little Kerse hub after SP Energy Networks' funding
Boxing: Sparta's Thomas O'Reilly earns Scotland call
We need to forget about Saturday's defeat quickly, says Falkirk midfielder Nesbitt
'Things did conspire against us' - Boss John McGlynn on Falkirk's second-half display
Diamonds shine as ten-man Falkirk falter in heavy defeat
Stadium manager Dougie Hanley said they had originally hoped the lift could be repaired but in the end that hadn’t been practical.
He said: “We are having to replace the whole lift and it takes 17 or 18 weeks to be fully constructed.
“However, that started a number of months ago and we are hopeful the new one will start to be installed next week.
“All being well, it should be in place by mid-February.
“In the meantime, people can still use the secondary lift.
“Many of our regulars are now used to this lift and can make their own way but if anyone needs assistance we are very happy to escort them.”