The former Central Plaza Hotel will be fully demolished, according to Carlisle City Council.
The dangerous state of the building led to the closure of Victoria Viaduct, one of the main roads leading into the centre of the city, on 8 October.
The city council has now revealed plans are underway to gradually bring down the structure by February next year.
The large listed building has been closed to the public since 2004 and has since fallen into disrepair. It has no owner which means it is the council's responsibility for its safety.
Meanwhile, businesses affected by the road closure will gather together for an urgent meet arranged by MP John Stevenson.
Companies in the area have been cut off and some fear this could lead to loss of trade and businesses folding.
Mr Stevenson said: "I sympathise with the businesses in the area who are experiencing reduced trade due to difficult access to the Viaduct. I will be meeting with them on Friday to discuss ways in which I can make representations on their behalf, both to the local council and to central government.
"My main concern is that the structure can be secured and that the Viaduct can be reopen as soon as possible and I will work those businesses affected to ensure that the council and Government are doing all they can to conclude this ongoing issue in our city centre", he said.
It's the second time the zone surrounding the structurally unstable plaza has been forced to close.
Cumbria County Council shut the road and footpath back in May 2018 for two months, causing major disruption.