Certainly, when this psalm was written, "the city of our God" referred to Jerusalem. Christian theology sees something different, though, and that is that the church is the city of God, and it is in the church that God's praise should equal God's greatness.
I, when I am lifted up from the earth, will draw all people to myself.
It is also in the church that Christ is lifted up. The cross is beautiful in elevation, and its salvation is the joy of all the earth.
You are great, O Lord; help me to give you great praise. Your body lifted up on the cross is beautiful, O Lord, may the atonement accomplished in your body not only bring me joy, but inspire me to take my joy into the world. In Jesus' Name, who taught me to pray: Our Father...