The people of Dillon have overturned the approval of a major waterfront project in a decision that will shape the future development of the town core.

Dillon residents voted 132-229 on a referendum question before them in a special election Tuesday, Oct. 1, according to results posted to the town website. The vote shot down the Dillon Town Council’s earlier approval of a “branded residence” structure with 200 condominium units, three restaurants, retail space, an observation tower and a park that would’ve been open to the public.

Residents opposed to the branded residence project, especially the structure’s height and size, circulated a petition earlier this year setting up the referendum vote. The referendum vote overturns Dillon Town Council’s 4-2 vote in March to approve a planned unit development — allowing variations from the underlying zoning — for the branded residence project.

Developer Jake Porritt has said that if the referendum overturned the branded residence project, he would pursue a backup plan to construct a private 240-condominium structure at 626 Lake Dillon Drive instead.

Porritt has said he believes that the backup structure could be constructed “by right” or without discretionary approval by the town government. The Dillon Zoning and Planning Commission would have to review any backup plans submitted for construction on the property for compliance with the underlying residential high zoning district and town codes.