Your equation can be rewritten as
.. (x -3/4)^2 = -8(y +1/2)
This is the equation of a parabola with vertex (3/4, -1/2) and vertex-to-focus distance (p) such that
.. -8 = 4p
.. p = -2
The directrix will have equation
.. y = -1/2 -p = -1/2 -(-2)
.. y = 3/2