Mayor says affordable housing tax hike won't pass

Why it matters: It's a major blow for Johnston, who teamed up with the Denver City Council's progressive bloc to create what he characterized as an affordability solution.

By the numbers: Referred Question 2R was losing 49% to 51% as of Friday evening, according to preliminary results from the Denver Elections Division.

What he's saying: "2R was one path to make Denver more affordable, but it's not the only path forward," Johnston said in the statement.

• "I remain committed to finding new solutions to take on this challenge."

Context: The measure asked voters to raise the city sales tax by 0.5% — the equivalent of 5 cents on a $10 purchase — to raise $100 million annually to create and preserve both rental and for-sale homes.

• The money would have been used to build or maintain nearly 45,000 units, meeting current affordable housing needs.

Yes, but: Some council members criticized the plan, suggesting it wasn't fully formed and required more details about how such a vast sum would be used to achieve Johnston's stated goals.

Between the lines: Voters passed the other tax increase on the ballot this year to help Denver Health pay for the uncompensated care it provides.