Reconfigurable hardware such as FPGAs are being increasingly employed for accelerating compute-intensive applications. While recent advances in technology have increased the capacity of FPGAs, lack of standard models for developing custom accelerators creates issues with scalability and compatibility. The authors present SHARC - Streaming Hardware Accelerator with Run-time Configurability, for an FPGA-based accelerator. This model is at a lower-level compared to existing stream processing models and provides the hardware designer with a flexible platform for developing custom accelerators. The SHARC model provides a generic interface for each hardware module and a hierarchical structure for parallelism at multiple levels in an accelerator. It also includes a parameterization and hierarchical run-time reconfiguration framework to enable hardware reuse for flexible yet high throughput design.