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Read Introduction to 1 Peter


“Therefore it is also contained in the Scripture,

‘Behold, I lay in Zion
A chief cornerstone, elect, precious, And he who believes on Him will by no means be put to shame.’”
Behold, I lay in Zion
“Behold” calls attention to the importance of the statement. 
“Zion” is the temple site in Jerusalem. “Zion” became a title for believers in Israel. 
Jesus himself quoted from this Scripture (Mt. 21:42). Peter referred to this passage in his defense before the Sanhedrin (Acts 4:11). 
A chief cornerstone
A cornerstone is where the stones of a building meet and unites the entire structure. A building rests on its cornerstone. The cornerstone is the most significant stone of the whole structure. The entire house is held together by this stone. It controls the whole structure. A believer rests on the Lord Jesus, our cornerstone. He supports the entire church.
Ephesians 2:19-22, “Now, therefore, you are no longer strangers and foreigners, but fellow citizens with the saints and members of the household of God, 20having been built on the foundation of the apostles and prophets, Jesus Christ Himself being the chief cornerstone, 21in whom the whole building, being joined together, grows into a holy temple in the Lord, 22in whom you also are being built together for a dwelling place of God in the Spirit.” 
God builds his sovereign plan around the Son.
God has a sovereign plan for the Son of God. His whole plan of salvation revolves around the Lord Jesus. Jesus’ death on the cross is the foundation for our salvation. We are as safe as this foundation.