Structural damage was found in the stand and following a review from a structural engineer, plans will be pressed ahead to tear it down.
However, the Euro 2016 qualifying match against Romania - which takes place on June 13 - will go ahead at the venue as planned, with the IFA stating that work on the East Stand, South East Quadrant and South Stand would be accelerated in order to meet the 10,000 capacity.
IFA chief executive Patrick Nelson said: "Naturally it is sad that we are having to resolve the West Stand issues in this manner, however the project team has worked tirelessly over the past three weeks to develop a plan which will enable us to play Romania in our own home in eight weeks' time.
"Now the decision has been made, the focus turns to delivery. We will keep in close touch with UEFA and the relevant safety authorities to ensure that they are fully aware of, and in agreement with, our plans."
Northern Ireland are second in Group F having taken 12 points from five matches and sit just one point below leaders Romania.
