A method for dynamically allocating signal processing resources in a wireless multichannel broadband base station (BBS) for a cellular communications network including determining a number of available channel processor (CP) resources which are unused in a BBS. In response to notification of a subscriber call to be processed by a cell of the BBS, a determination is made as to whether the number of available CP resources is at least one. If so, then the call is assigned to any available CP resource in the BBS. Each of the CPs in the BBS process any of a plurality of traffic channels contained on any frequency channel assigned to the BBS. In addition, an apparatus for practicing the method is disclosed.