While it made up ground in later returns after Tuesday’s election, the measure was rejected on 51% of city ballots counted so far, according to the latest results released by the Denver

Proposed by Johnston and referred to voters by the Denver City Council, Ballot Issue 2R would have raised an estimated $100 million a year, the largest ever expansion of a local government affordable housing program in Colorado’s history. Concerns about the cost of living, however, cut both ways to defeat the measure at the ballot box.

Issue 2R proposed a 0.5% city sales tax rate increase expected to generate $100 million annually that would go toward Denver’s affordable housing programs. It would have meant consumers spending 5 cents more on a $10 purchase in Denver if approved.

The mayor-backed measure aimed to raise $100 million for affordable housing annually. Supporters await results from more than 100,000 ballots being counted Wednesday.

In Denver, 52% of voters were rejecting a sales tax increase to support affordable housing projects and programs in the city and 57% of voters were approving a separate sales tax increase to shore up the finances of Denver Health hospital,

If approved, the measure would raise an estimated $100 million a year, the largest ever expansion of a local government affordable housing program in Colorado’s history

Denver Mayor Mike Johnston conceded Saturday that voters appear to have narrowly defeated a citywide ballot measure that would have advanced his affordable housing proposal.