Data movement is the dominating factor affecting performance and energy in modern computing systems. Consequently, many algorithms have been developed to minimize the number of I/O operations for common computing patterns. Matrix multiplication is no exception, and lower bounds have been proven and implemented both for shared and distributed memory systems. Reconfigurable hardware platforms are a lucrative target for I/O minimizing algorithms, as they offer full control of memory accesses to the programmer. While bounds developed in the context of fixed architectures still apply to these platforms, the spatially distributed nature of their computational and memory resources requires a decentralized approach to optimize algorithms for maximum hardware utilization. We present a model to optimize matrix multiplication for FPGA platforms, simultaneously targeting maximum performance and minimum off-chip data movement, within constraints set by the hardware. We map the model to a concrete architecture using a high-level synthesis tool, maintaining a high level of abstraction, allowing us to support arbitrary data types, and enables maintainability and portability across FPGA devices. Kernels generated from our architecture are shown to offer competitive performance in practice, scaling with both compute and memory resources. We offer our design as an open source project to encourage the open development of linear algebra and I/O minimizing algorithms on reconfigurable hardware platforms.