Many embedded processor chips aimed at high performance and low power application domains are implemented as multiprocessor System-on-Chip (MPSoC) devices. The multimedia and communication sub-systems of an MPSoC perform some of the most computation intensive and performance critical tasks, and are key determinants of the systemlevel performance and power consumption. This paper presents an automated technique for synthesizing the system-level memory architecture (both code and data) for the streaming sub-systems of an embedded processor. The experimental results evaluate effectiveness of the proposed technique by synthesizing the system-level memory architecture for benchmark stream processing applications and comparisons against an existing approach.