The "Gemeinnützige Wiesbadener Wohnungsbaugesellschaft mbH" was founded on March 30, 1949 by representatives of the city and the commercial sector with the aim of rebuilding the housing destroyed by the war. The founding members of GWW included: the City of Wiesbaden, Stadtwerke Wiesbaden AG (ESWE Versorgungs AG), Dyckerhoff Portland-Zementwerke AG(Dyckerhoff GmbH), Zellstofffabrik Waldhof, Didier-Werke GmbH (Didier Werke AG), Jakob Wagner IV, Georg Weigel and the Anton Meister company.

The first 264 apartments on Bierstadter Höhe were completed as early as 1950. The first block of the airlift housing estate was called "Crestview". By 1951, a further 283 apartments had been built in the urban area. In 1953, GWW was responsible for supervising the construction of the Federal Criminal Police Office. With the proceeds from the sale of 401 apartments on the "Crestview" estate to the Federal Republic of Germany, over 950 new apartments were built in the 1960s. In 1965, the 5,000th apartment was ready for occupancy.

When the construction boom slowed down, GWW turned its attention to other tasks relevant to housing policy. In addition to the social obligation to provide low-income citizens with suitable housing, older citizens were to be provided with adequate housing, independence in the home was to be promoted and the social isolation of older people counteracted. In 1985, the first handicapped-accessible apartments and a large number of publicly subsidized apartments were built on the site of the former municipal clinics. In 1989, the first 100 age-appropriate apartments were ready for occupancy. After the 1st Thermal Insulation Ordinance came into force, GWW focused increasingly on modernizing its portfolio.

In the 21st century, GWW is moving towards addressing people's changing housing needs. At the same time, the continuous rise in ancillary housing costs makes it necessary to adapt the portfolio to modern energy standards. For example, the first 300 apartments in Klarenthal were refurbished at the turn of the millennium. In order to modernize their apartments from the 1950s and 1960s, more than EUR 15 million is to be invested annually over a period of ten years in the energy optimization of the portfolio. In 2004, GWW tenants were offered their apartments for sale for the first time. In 2006, structural deficiencies made it necessary to redesign the "Weidenborn" residential area. Over 800 new rental and owner-occupied apartments are to be built in this quarter within 10 years. At the end of 2006, the conversion of the Hessenhaus at Kronprinzenstrasse 28, the headquarters of GWW, also began in order to create space for the employees of the sister company GeWeGe.

In 2007, GWW opened the service office "Leben und Wohnen im Alter" (LuWia); the advice and service offer is aimed specifically at older tenants.

The management contract between GWW and GeWeGe came into force on January 1, 2008. From now on, the housing portfolios of both companies will be managed jointly. This was a key prerequisite for the successful integration of 2,800 apartments from Mainzer Wohnbaugesellschaft in the Wiesbaden districts of Amöneburg, Kastel and Kostheim (AKK) into the portfolio as of September 1, 2009. This increased the number of apartments to be managed to over 13,000 units, and the energy-saving program launched in 2006 was extended to the newly acquired portfolio.

As 300 existing apartments are adapted to current technical standards every year, GWW makes a measurable contribution to achieving the climate policy goals of the Hessian state capital. Furthermore, social and civic engagement remains an integral part of the corporate culture. In November 2013, GWW invited renowned experts and market participants to the 1st Wiesbaden Housing Summit to discuss sustainable solutions for a future-oriented housing supply. By 2021, around EUR 200 million is to be invested in the construction of over 1,300 new apartments, most of which are to be built on the company's own land.