Our History

On January 1, 1964, the Texas Uniform Condominium Act became effective. Walter Wisznia, a Corpus Christi architect who had built a six story decagon building there, and his associate Andrew Sakos were retained by Overbrook Development Corporation to design a similar but taller building at 5050 Woodway in Houston. It was planned from the outset as a luxury residential condominium building. By 1966 it was completed by Manhattan Construction Company of Texas. The earliest occupants were Mrs. Parks, the mother of the principal officer of Overbrook, and Sonia and Walter Wisznia, who had a unit here as their second home for many years.

Early marketing materials offered 42 residential units with 117 parking spaces, storage lockers, a laundry room, Hotpoint appliances, five guest rooms, available maid service, a swimming pool and the excellent location of the site convenient to smart shopping centers. The building was named Executive House but is commonly known as 5050 Woodway.

Only 5 units were sold that first year. There were many misunderstandings about the new statute and prospective buyers were misadvised as to the legal status of condominium ownership in many instances. The result was the building being repossessed by Gibraltar Mortgage Company. A well-known Houston homebuilder, Guy Odom, also financed his projects with Gibraltar. When he applied for a new loan he was told he had to take this building with it, so Guy became the owner of all the unsold units. He promptly began to rent them to tenants with an option to purchase clause in each lease. Many of those options were exercised. No one rented the larger two 8 module units, 8R and 9R, so Guy was just on the verge of dividing them into smaller units when along came two purchasers: Mr. and Mrs. George Strake, Sr. and Ann and Bernard Sakowitz. Those two couples occupied the large units for the rest of their lives. In the fall of 1969 4L was purchased and that was the turning point, Guy no longer had a majority ownership.

Since that date there have been many committed and dedicated owners who have volunteered their time and expertise to the Board of Directors of 5050 Woodway, so there has never been a need to hire a management company. Every Board has retained a manager to supervise the management of the building. The original Declaration to Establish a Condominium Regime, By-Laws, and Rules have been amended many times over the years to conform to new legal requirements and changes in conditions. Improvements and maintenance have been updated whenever required to maintain the building and grounds in excellent condition.