Martin, who would go on to run a restaurant in Houston following his retirement from basketball, was a popular figure in the city dating as far back as his high school days
Martin died Thursday.
He was a seven-time all-star for the 1950s Minneapolis Lakers.
Martin, who played guard, still holds the University of Texas record for most points in a game -- 49.
He was a first-team all-America selection in 1949.
The school retired his No. 15 in 2009.
Martin was inducted into the Pro Basketball Hall of Fame in 1982.
He is survived by two sons, Jim and Slater Jr., the Houston Chronicle reported.