One embodiment of the present invention provides a system that allocates memory for immutable data on a computing device. During operation, the system receives an application to be executed on the computing device. Next, the system allocates a memory region on the computing device to store immutable data for the application. Note that this memory region is smaller than the immutable data for the application. When the system subsequently receives a request to access a block of immutable data for the application, the system allocates space in this memory region for the block, and proceeds to load the block into the memory region. However, if at a later time the space occupied by this first block is needed for another block, the system unloads and discards the first block. If a subsequent operation needs to use information in the first block, the system regenerates the block by transforming raw data associated with the block into a form that can be directly accessed by the application, and then reloads the block into the memory region.