WaveCore is a coarse-grained reconfigurable processor architecture, based on data-flow principles. The processor architecture consists of a scalable and interconnected cluster of Processing Units (PU), where each PU embodies a small floating-point RISC processor. The processor has been designed in technology-independent VHDL and mapped on a commercially available FPGA development platform. The programming methodology is declarative, and optimized to the application domain of audio and acoustical modeling. A benchmark demonstrator algorithm (guitar-model, comprehensive effects-gear box, and distortion/cabinet model) has been developed and applied to the WaveCore development platform. The demonstrator algorithm proved that WaveCore is very well suited for efficient modeling of complex audio/acoustical algorithms with negligible latency and virtually zero jitter. An experimental Faust-to-WaveCore compiler has shown the feasibility of automated compilation of Faust code to the WaveCore processor target.