An embedded multiprocessor which can run multiple hard-real-time (HRT) jobs simultaneously has to guarantee enough resources are available such that timing constraints are met. It is essential that both application model and hardware are tailored to this goal. Moreover, suitable resource allocation and scheduling are needed. This paper proposes a resource allocator which gives guarantees for HRT streaming applications. Because new jobs arrive during operation, resource allocation is performed at run-time. This provides admission control. Resource budget enforcement is handled by local schedulers. We formalize our resource allocation problem and we show it is NP-complete. We developed heuristics to approximate its solution during run-time and evaluated them. A modified First-fit Vector Bin-Packing algorithm is a good solution; it can allocate 95% of the computational resources, while handling a large number of job arrivals and departures on a heavily loaded system.