The virtual address gets associated with the physical RAM in 4KB pages. So if you just allocate an a region twice as large as you will ever need, and start writing in the middle, you will never be wasting more than 8KB of real RAM. No copying, no reallocation, just keep track somewhere of the head and tail.
Other than the momentary panic of those who notice how much memory is being "used", what are the downsides of this approach? The 8KB is unlikely to ever be a problem. I haven't seen many people taking this approach to memory management, and other than stigma, I'm not sure why. Is it that everyone still wants to support 32-bit systems?